Martha and Wendy Start a Cookie Shop and the Business

Multiple Choice

Martha and Wendy start a cookie shop and the business is organized as a corporation. Because of poor planning the business goes bankrupt and the corporation's debt is $30,000. Martha has $30,000 in savings and Wendy has $80,000 in savings. Martha must pay ________ of the debt and Wendy must pay ________ of the debt.

A) $0; $0
B) $15,000; $15,000
C) $0; $30,000
D) None of the above answers is correct because each must pay but the amount each must pay cannot be determined without more information about who managed the company.