1. Monogram Inc. wanted to buy a company that produced and sold smoke detectors. Accordingly, Monogram formed Monotronics Inc. for the sole purpose of buying and operating the business. Monogram contributed $1.8 million cash to Monotronics and held 100 percent of its stock. After several profitable months, Monotronics' sales began to fall until its total assets dwindled to $10,000. Monotronics finally ceased doing business altogether, although it owed its largest creditor, Edwards Company, $352,000. Edwards Company attempted to hold Monogram liable for Monotronics' debts. Should the court pierce the corporate veil and hold Monogram liable on the Monotronics contractual obligations?