There were four principles in our startup S corporation. Three of us put in sweat equity with one putting up cash. At the time of our setup and on our first K-1, we had accessed a value and percentage to ownership. My contribution was entering my already established business into the corporation. I had a business offering the same service as the new corporation; however the new business would bring this service to a higher level. The problem we are having now is the owner that put up the cash hired his accountant to do the corporation books. Now, this owner and the accountant took our value off the books and K-1 and stated that his contribution is the only one with an asset since “sweat equity” has no value. On our K 1s it looks like he’s the only owner with a value attached.Can this individual take off the value that was attached to our percentage of the corp. when we started our start up without consent of the other owners?