Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $32,000 and has cash on hand of $16,000 contributed by Lannis owners. Lanni takes out a bank loan. It receives $46,000 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.

Assets		Liabilities & Shareholders' Equity
Cash		Bank loan
Computers		Shareholders' equity
Total		Total

a-2. What is the ratio of real assets to total assets? (Round your answer to 2 decimal places.)

b-1. Prepare the balance sheet after Lanni spends the $62,000 to develop its software product.

Assets		Liabilities & Shareholders' Equity
Software product		Bank loan
Computers		Shareholders' equity
Total		Total

b-2. What is the ratio of real assets to total assets? (Round your answer to 2 decimal places.)

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 1,700 shares for $65 per share. Prepare the balance sheet after Lanni accepts the payment of shares from Microsoft.

Assets		Liabilities & Shareholders' Equity
Microsoft shares		Bank loan
Computers		Shareholders' equity
Total		Total

c-2. What is the ratio of real assets to total assets? (Round your answer to 2 decimal places.)