O' Hara Company began operations on December 1, 2011. Presented below is selected information related to O' Hara Company at December 31, 2011.

Question

Office Equipment ₤ 40,000 Utilities Expense ₤ 6,000
Cash 14,000 Accounts Receivable 27,000
Service Revenue 108,000 Wages Expense 47,000
Rent Expense 13,000 Notes Payable 10,000
Accounts Payable 16,000 Dividends 15,000
Share Capital 28,000
1. At December 31, 2011, assets total
a. £54,000.
b. £70,000.
c. £81,000.
d. £97,000.