Business law in USA

Discuss the following Scenario regarding Choice of Business Entity, giving reasons for your answer. Will, Sam, and Betsy became good friends during their first 2 years in college at UNK. This summer they decided to stay in Kearney and take a few summer classes and work. Unfortunately, they were unable to find jobs so they decided to open their own 4th of July Fireworks stand. They obtained all necessary state and city permits to operate the stand. They are looking to find a location to rent for their stand and are in the process of ordering their fireworks inventory. Each has scraped together $1,000 to contribute to the enterprise. They all 3 plan to participate in the management of the stand and they plan to share their profits equally after expenses. They are hoping that they can each earn about $3,000. They have a few close friends that will help them work at the stand during the 10 days it is open. You are friends with all three and since you are taking Business Law this semester they have asked you to advise them as to what business form or entity they should create for their little business. Lawyers have been outlawed in Nebraska, so you have agreed to help them. Which business form would you advise them to use in this situation (Partnership, Limited Liability Partnership, Corporation, S Corporation, or LLC). Include in your discussion the advantages and disadvantages of the form you chose and why you think it works best for them