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3. Rachel worked in one of her family's two furniture stores. When her grandfather decided to expand the business and build three more stores, Rachel

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3. Rachel worked in one of her family's two furniture stores. When her grandfather decided to expand the business and build three more stores, Rachel realized that he would need a lot of capital to get the construction started. She suggested that her grandfather raise the money by selling shares of stock in the company to just a few people, not to the general public. Her grandfather filed Articles of Incorporation with the govemment. He sold 1,000 shares of stock to 100 people and kept 1,500 shares

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