Norm and Steven are recently graduated college roommates who are interested going into business selling some of the humorous t-shirts that they designed for fraternities and clubs at their school. Because their humor was predominantly based on quotes from newly released movies and the latest popular television shows, they knew that they had to get the business started as quickly as possible while their material was still fresh. Fortunately, Norm had just inherited a relatively large amount money from his late grandmother, which he planned to contribute to the business to cover all start-up costs. Steven did not have any capital to contribute, but promised to devote long hours to the business once it was up and running, while Norm would be free to only work part-time. Norm and Steven had found that they worked well together as a team, and wanted to share management responsibilities in the new business. Norm and Steve also agreed that they would want to share the profits of the business equally. If Norm and Steve come to you for advice as to what type entity they should form for their business venture, which would you recommend? Explain.