Liability comparisons Merideth Harper has invested​ $25,000 in Southwest Development Company. The firm has recently declared bankruptcy and has​ $60,000 in unpaid debts. Explain the nature of​ payments, if​ any, by Merideth in each of the following situations. a. Southwest Development Company is a sole proprietorship owned by Ms. Harper. b. Southwest Development Company is a​ 50-50 partnership of Merideth Harper and Christopher Black. c. Southwest Development Company is a corporation.