Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $23,000 and has cash on hand of $26,000 contributed by Lanni's owners. Lanni takes out a bank loan. It receives $34.000 in cash and signs a note promising to pay back the loan over 3 years. a-1. Prepare the balance sheet just after it gets the bank loan. Answer is complete and correct. Liabilities & Shareholders Assets Equity Cash $ 60,000 Bank loan $ 34,000 Computers Shareholders 23,000 equity 49,000 Total $ 83,000 Total $ 83,000 a-2. What is the ratio of real assets to total assets? (Round your answer to 2 decimal places.) Answer is complete and correct. Ratio of real assets to total assets 0.28 b-1. Prepare the balance sheet after Lanni spends the $60,000 to develop its software product. Answer is complete and correct. Assets $ 60,000 Software product Computers Total Liabilities & Shareholders' Equity Bank loan $ 34,000 Shareholders' 49,000 equity Total $ 83,000 23,000 $ 83,000 b-2. What is the ratio of real assets to total assets? (Round your answer to 2 decimal places.) Answer is complete and correct. Ratio of real assets to total assets 1.00 c-1. Lanni sells the software product to Microsoft, which will market it to the public under the Microsoft name, Lanni accepts payment in the form of 1750 shares for $48 per share. Prepare the balance sheet after Lanni accepts the payment of shares from Microsoft Answer is complete but not entirely correct. Liabilities & Shareholders Assets Equity Microsoft shares $ 84,000 Bank loan $ 34,000 Computers 23,000 Shareholders equity 60,000 IS Total 107.000 Total $ 94,000 c. 2. What is the ratio of real assets to total assets? (Round your answer to 2 decimal places.) Answer is complete and correct. Ratio of real assets to total assets 0.21