Ms Lewis has invested £100,000 into Natura, a shop selling natural and organic beauty products. The business has recently shut down and is unable to fulfil payment obligations worth £190,000. The business has no cash in its business bank account, is owed no money by customers, and has no inventory to sell. In short, the business has no assets it can use to satisfy its obligations.

Advise Ms Lewis on the current state of her investment and the amount that she is liable for in each of the following Questions:

i.Natura is a sole proprietorship owned by Ms Lewis?

ii.Natura is a partnership owned 50:50 by Ms Lewis and Mrs Taylor?

iii.Natura is a private limited company (Ltd) owned 60:40 by Ms Lewis and her sisters?