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"Sea green has just lost a product liability suit with damages of $7 million being awarded to the plaintiff.

"Sea green has just lost a product liability suit with damages of $7 million being awarded to the plaintiff. Although Sea Green will appeal the judgemet, legal counsel indicated the judgement is highly unlikely to be overturned by the appellate court. The product liability insurance carried by Sea Green has a policy ceiling of $3 milion. What is the amount of liability of Sea Green Enterprises and its owners if the form of the business entity is: A. A Sole proprietorship B. A partnership C. A C corporation D. An S corportation. Assets: Net Value $775,000 Fair Market Value $975,000. Liabilities: Net Book Value $250,000 Fair Market Value $250,000
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Solution.xlsx

$
product liability suit with damages
Less : savings from Insurance 7000000
3000000 Liabiltity 4000000 Company Assets and Liabilities
Assets ( Fair market value) 975000 Liabilities ( Fair market...

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