E12-1 Suzanne Drake, a friend from college, approaches you about forming a partnership to export software. Since graduating. Drake has worked for the International Trade Bank, devel- oping important contacts among government officials and business leaders in Eastern Europe. Drake believes she is in a unique position to capitalize on the growing market in Eastern Europe for American computers. With expertise in finance, you would have responsibility for accounting and finance in the partnership. Required Discuss the advantages and disadvantages of organizing the export business as a partnership rather than a proprietorship. Comment on how partnership income is taxed and how your taxes would change if you organized as an S corporation.