Part $2$

Scenario

Benjamin, Catheryn, Barb and Michael are knowledgeable about pool design. They have decided to pool their knowledge and resources to form Shallow Beach Enterprises

Inc., a C corporation. They will provide professional services to area businesses and homeowners. All participants expect to work full time for Shallow Beach Enterprises, and

each expects to contribute sufficient assets to become a $25\%$ shareholder with total stock equity of $$50,000$ each.

In addition to the skills that each brings to the new entity, the owners will contribute assets that will enhance the company's ability to provide quality technical design and

planning services. These assets include a building, land, pool excavating equipment, office furniture, and cash for initial operating expenses.

The assets contributed by each shareholder, along with any related liabilities assumed by the corporation, are provided in the link below.

Shareholder Assets Contributed for Shallow Beach ENterprises

The assets contributed by each shareholder, along with any related liabilities assumed by the corporation, are provided below.

Answer the questions in the template to complete the assignment.