Organizing Your Financial Information You have a car worth $40,000 with a car loan of $35,000. How would you best categorize your car and your car loan, respectively, on your personal balance sheet? O The car is a $5,000 asset, and the car loan is a $35,000 liability. O The car is a $40,000 liquid asset, and the car loan is a $35,000 current bill. O The car is a $40,000 asset, and the car loan is a $35,000 liability. O The car is a $5,000 real property.