Spencer Software Company has assets of $850,000 and liabilities of $460,000.

a.	Prepare the owners' equity section of the company's balance sheet under each of the following independent assumptions:
	1.	The business is organized as a sole proprietorship, owned by Johanna Spencer.
	2.	The business is organized as a partnership, owned by Johanna Spencer and Mikki Yato. Spencers equity amounts to $240,000.
	3.	The business is a corporation with 27 stockholders, each of whom originally invested $10,000 in exchange for shares of the companys capital stock. The remainder of the stockholders equity has resulted from profitable operation of the business.