Amanda is running a successful consulting business. She initially set up her business as a sole proprietor. In the last 2 years, Amanda's business has been doing very well and generated over $250,000 in revenue. Last month Amanda signed up two major corporate clients that will likely bring money to her business. Amanda is wondering if she should continue to run her business as a sole proprietor or she should incorporate. With that in mind, please explain what is meant by corporation having a separate legal identity? Explain some of the advantages and disadvantages associated with the corporate method of carrying on businesses. In addition, please explain if Amanda should run her business as is or should she incorporate. what reasons can you provide?.