Jacqui and Joanne plan to buy a bed and breakfast inn for 200,000. Jacqui will contribute 20,000 toward the purchase and operate the enterprise. Joanne's primary role is that of investor. She will contribute 100,000. However, she will be an active participant because of her involvement in the management decisions. They will ;borrow the balance of the pirchase price from a local bank. Advise Jacqui and Joanne on a choice of business form. Consider that the enterprise is expected to realize operating losses of 50,000 annually for the first 3 years. During the 4th year, the inn should realize a meager profit.