What are the account balances at December 31 for Sportplace Inc.?
Accounts Payable: $51,200
Preferred Shares, $0.01: $870,000
Accounts Receivable: $81,950
a. Accounts Payable: $51,200
b. Preferred Shares: $870,000
c. Accounts Receivable: $81,950
d. Not enough information to determine