Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $30,000 and has cash on hand of $20,000 contributed by Lanni's owners. O . Lanni takes out a bank loan. It receives $50,000 in cash and signs a note promising to pay back the loan over three years. Lanni uses the cash from the bank plus $20,000 of its own funds to finance the development of new financial planning software. 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 1,000 shares of Microsoft stock. Lanni sells the shares of stock for $140 per share and uses part of the proceeds to pay off the bank loan. Required: a-1. Prepare its balance sheet just after it gets the bank loan. Assets Cash $ Liabilities & Shareholders' Equity 70,000 Bank loan $ 50,000 30,000 Shareholders' equity 50,000 100,000 Total 100,000 Computers Total A a-2. What is the ratio of real assets to total assets? (Round your answer to 1 decimal place.) Ratio of real to total assets 1.0 b-1. Prepare the balance sheet after Lanni spends the $70,000 to develop its software product, with the software valued at cost. Assets Software product $ Liabilities & Shareholders' Equity 140,000 Bank loan $ 50,000 30,000 Shareholders' equity 120,000 170,000 Total $ 170,000 Computers Total $ b-2. What is the ratio of real assets to total assets? (Round your answer to 1 decimal place.) Ratio of real to total assets 0.2 C-1. 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 $ 0 Total $ 0 c-2. What is the ratio of real assets to total assets? (Round your answer to 2 decimal places.) Ratio of real to total assets