1) Emeril enjoys cooking, and he is considering opening his own restaurant in New Orleans. However, Emeril has no significant assets and has very little money to invest in the business. A) Using the specifics of Emeril's situation, explain the advantages and disadvantages of using a sole proprietorship? (4pts)

B) For purposes of this question only, also assume that Emeril wants to be the only person in charge of his business and that he also wants to limit his liability. Emeril also has concerns about double taxation. Using what you know if Emeril's situation, explain whether any of the following entities will work for Emeril's situation:

Joint Stock Company

Limited Liability Company