Merideth Harper has invested $25,000 in Southwest Development Company. The firm has recently declared bankruptcy and has $60,000 in unpaid debts. Explain the nature of payments, if any, by Merideth in each of the following situations. Liability comparisons a. Southwest Development Company is a sole proprietorship owned by Ms. Harper. b. Southwest Development Company is a 50-50 partnership of Merideth Harper and Christopher Black. c. Southwest Development Company is a corporation. a. If Southwest Development Company is a sole proprietorship owned by Ms. Harper,: (Select the best answer below.) O A. Ms. Harper has limited liability, which guarantees that she cannot lose more than the $25,000 she invested. O B. Ms. Harper has unlimited liability, which means creditors can only claim against the $25,000 she invested. O C. Ms. Harper has limited liability, which is the amount of $60,000 in unpaid debts. O D. Ms. Harper has unlimited liability, which means creditors can claim against her personal assets. is a 50-50 partnership of Merideth Harper and Christopher Black, b. If Southwest Development Company (Select the best answer below.) O A. Ms. Harper has limited liability, which guarantees that she cannot lose more than the $25,000 she invested. O B. Ms. Harper has unlimited liability, which means creditors can claim against her personal assets. O C. Ms. Harper has unlimited liability, which means creditors can only claim against the $25,000 she invested. O D. Ms. Harper has limited liability, which is $30,000, or half of the $60,000 in unpaid debts. c. If Southwest Development Company is a corporation, (Select the best answer below.) O A. Ms. Harper has limited liability, which guarantees that she cannot lose more than the $25,000 she invested. O B. Ms. Harper has unlimited liability, which means creditors can claim against her personal assets. O C. Ms. Harper has unlimited liability, which means creditors can only claim against the $25,000 she invested. O D. Ms. Harper has limited liability, which is the amount of $60,000 in unpaid debts