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Marshall Davis has invested $225,000 in Arctic Development Company. The firm has recently declared bankruptcy and has $370,000 in unpaid debts. Explain the liability faced

Marshall Davis has invested $225,000 in Arctic Development Company. The firm has recently declared bankruptcy and has $370,000 in unpaid debts. Explain the liability faced by Mr. Davis in each of the following situations.

A. Arctic Development Company is a sole proprietorship owned by Mr. Davis.

B. Arctic Development Company is a 80-20 general partnership of Mr. Davis and Summer Johnson.

C. Arctic Development Company is a 80-20 limited partnership with Mr. Davis serving as the general partner.

D. Arctic Development Company is a 80-20 limited partnership with Mr. Davis serving as the limited partner.

E. Arctic Development Company is a corporation.

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