For each of the following transactions, you must:

1. Indicate the amount of the transaction
2. Indicate if the transaction is an Asset, Liability or Owners' Equity.
3. Indicate if it's a Current, Fixed or Intangible Asset or if it's a Current or Long-Term Liability or if it's Common Stock or Retained Earnings.
4. Indicate the type of Current, Fixed, Intangible Asset, Current or Long-Term Liability and Owners' Equity. Here are some examples (these are only examples and not answers to the transactions below) of how you would respond.
   • #1 - $5,000 - liability - current liability - accounts payable
   • #2 - $20,000 - asset - current asset - inventory
   • #3 - $200,000 - owners' equity - retained earnings

Joe Johnston works for Chicago Land Corporation and is in charge of overseeing all the accounting activities in the finance department. Please help him to classify these transactions so he can complete the Balance Sheet.

1. The company has four vehicles valued at $12,000, $13,500, $11,500 and $10,000.
2. The company had received $150,000 from Commerce Bank on March 8, 2016, which will be due in five years. All other loans have been paid.
3. The company had received $50,000 in November of 2017, from a bond sold to an investor, which is due in 2027.
4. Steve Smith, the President of the company, has $200,000 in stock.
5. Three customers owe the company $25,000 each and two customers owe the company $75,000 each for goods purchased from the Chicago Land Corporation.
6. The company has $75,000 in the company bank account.
7. The assessed value of the land that the company occupies is $200,000.
8. The finished goods in the warehouse are worth $250,000.
9. The contents of the building are valued at $185,000.
10. The company owes five companies $10,000 each for materials purchased.
11. The combined salaries of all the employees totals $500,000.
12. The company made $32,000 in profits and decided to re-invest the money back into the business.