4. LO.2, 3 Sea Green Enterprises reports the following assets and liabilities on its balance sheet.

Net Book Value Fair Market Value Assets $600,000 $925,000 Liabilities 200,000 200,000 Sea Green just lost a product liability suit with damages of $10,000,000 being awarded to the plaintiff. Although Sea Green will appeal the judgment, legal counsel indicates that the judgment is highly unlikely to be overturned by the appellate court. The product liability insurance carried by Sea Green includes a payout ceiling of $6,000,000. For how much of the judgment is the entity and its owners liable if Sea Green is:

a. A sole proprietorship?

b. A partnership?

c. An LLC?

d. A C corporation?

e. An S corporation?