Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $20,000 and has cash on hand of $29,000 contributed by Lannis owners. Lanni takes out a bank loan. It receives $31,000 in cash and signs a note promising to pay back the loan over 3 years. Here is the top part to go with the rest of the questions.

c-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 $60,000 to develop its software product. Assets Software product Computers Total Liabilities & Shareholders' Equity Bank loan Shareholders' equity Total b-2. What is the ratio of real assets to total assets? (Round your answer to 2 decimal places.) Ratio of real assets to total assets 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 2,050 shares for $48 per share. Prepare the balance sheet after Lanni accepts the payment of shares from Microsoft. Assets Microsoft shares Computers Total Liabilities & Shareholders' Equity Bank loan Shareholders' equity Total