A corporation reported the following during 2017: Net income of $175,250; a sale of 10,000 shares of $5 par value common stock for $8.75 per share; a purchase of treasury stock costing $24,750; a sale of treasury stock costing $15,500 for $14,695; a declaration and distribution of a $39,000 cash dividend; a declaration and distribution of a "small" stock dividend of 5,000 shares of $5 par value common stock at a total market value of $50,000. What was the increase in owners' equity during 2017?

a. $213,695

b. $164,500

c. $214,500

d. $163,695