Toby and Billy share ownership of a pizza restaurant where Toby owns $50\%$ and Billy owns $50\%.$ The business is not a corporation $($i$.$e$.,$ has not incorporated$).$ Unfortunately, the restaurant was not successful and closed permanently last week. The restaurant still owes their food supplier $$50,000$ who has sued the restaurant for payment. The judge rules in the favor of the supplier and sets the damages at $$50,000.$ Billy has only has $$10,000$ in total assets and Toby has $$75,000.$

How much will Toby need to pay in this situation?

Group of answer choices

$$0$ since the company is no longer in business and the company owes the $$50,000$

$$25,000$ since Toby owns $50\%$ of the company and only is responsible for his share of the damage award

$$40,000$ since as a partner, Toby is responsible for whatever Billy cannot pay.

$$50,000$ since Toby has so much more money than Billy, Billy doesn't need to pay anything.