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Sea Green has the following assets and liabilities: Net Book Value Fair Market Value Assets $ 9 6 0 , 0 0 0 $ 1
Sea Green has the following assets and liabilities:
Net Book Value Fair Market Value
Assets $ $
Liabilities
Sea Green just lost a product liability lawsuit, with damages of $ being awarded to the plaintiff. Although Sea Green will appeal the judgment, legal counsel indicates the judgment is highly unlikely to be overturned by the appellate court. The product liability insurance carried by Sea Green has a policy ceiling of $
Assume any net assets of the company will be used to reduce the judgment.
For how much will the owners of Sea Green be liable if Sea Green is organized as a sole proprietorship, a partnership, an LLC a C corporation, and an S corporation?
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