Little Johnny has been cutting grass in his neighborhood since he was 14 years old. Upon graduating from high school, Johnny enrolled at the University of Missouri. To help pay his tuition and living expenses, Johnny expanded his neighborhood grass-cutting enterprise to a full-service landscaping operation. Johnny markets his small start-up as: Johnny’s Lawn Care – “one man, one mower, one great lawn!” Johnny runs his grass-cutting operation as a sole proprietorship, and obtains a line of credit from Local Bank to purchase the equipment he needs (e.g. shiny new lawn mower, weed eater, etc.). Local Bank takes and properly perfects a security interest in all of Johnny’s present and after-acquired equipment.

Johnny runs his lawn care business all four years of undergrad, and enjoys tremendous success. So much so that during his senior year he decides to make a go of it in the business world, and begins making preparations to “go big” once he graduates. On May 15, 2008, Johnny incorporates his business in Missouri and begins operating under the corporation's legal name "Cutwell Landscape Architects Inc." The corporation took over ownership of all of the assets of Johnny's lawn-mowing business and assumed all of Johnny's liabilities.

During 2008, Johnny has used the line of credit at Local Bank to purchase the following items:

• Item 1 – a utility trailer purchased on May 1, 2008
• Item 2 – a riding mower purchased on July 15, 2008
• Item 3 – a weed-eater, leaf-blower, and edger purchased on August 30, 2008
• Item 4 – a pick-up truck (for hauling equipment) purchased on October 1, 2008

As of October 1, 2008, in which items does Local Bank have a perfected security interest in?

a) All four items

b) None of the four items

c) Item 1 only

d) Items 1, 2, and 3 only