Which is the correct one between these sentences?

Question

Suppose I'm talking to my friend and we both have a same bag. What should I say :

1. I have a bag like you have!
2. I have a bag like your's!
3. I have a bag like you!

I feel the 3rd one is not correct, as the line states 'bag like you' and friend I'm talking to is not a bag . I cannot figure out the sentence I should use between the first two sentences, rather I do not understand if they mean different things either.

So, can you help me here please ?

Answer 1

None of those is right!

The correct sentence is "I have a bag like yours." No apostrophe.

"I have a bag like you have" might be considered an informal elision of "I have a bag like the one that you have", but I would never use it in even slightly formal speech.