Suppose Jaime, Madara, and Jose form IT Inc., a corporation, and each contributes $1,000,000 capital. The corporation borrows $1 million from State Bank. One year later, IT Inc. goes bankrupt and defaults on the $1 million loan owed to State Bank. At that time, IT Inc.'s only asset is $50,000 cash, which State Bank recovers. What are the financial implications for Jaime, Madara, and Jose have? ... O A. Jaime, Madara, and Jose each owe $100,000 to State Bank to pay part of the loan. B. Jaime, Madara, and Jose each lose their initial investment of $100,000. OC. Jaime, Madara, and Jose are each responsible for 1/3 of the loan owed to State Bank. D. Whoever signed the loan on behalf of the IT Inc. is responsible for the balance of the loan. E. Each person, Jaime, Madara, and Jose, is individually responsible for the full balance of the loan