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Laser Delivery Services, Incorporated $($LDS$),$ was incorporated January $1.$ The following transactions occurred during the year:

a$.$ Received $$40,000$ cash from the company's founders in exchange for common stock.

b$.$ Purchased land for $$12,000,$ signing a two$-$year note $($ignore interest$).$

c$.$ Bought two used delivery trucks at the start of the year at a cost of $$10,000$ each; paid $$2,000$ cash and signed a note due in three years for $$18,000($ignore interest$).$

d$.$ Paid $$2,000$ cash to a truck repair shop for a new motor, which increased the cost of one of the trucks.

e$.$ Stockholder Jonah Lee paid $$300,000$ cash for a house for his personal use.