Account balances of Machado Co. at August 31, 20X6 are as follows: 12,500 Cash 111,000 Dividends Payable. Preference Shares, $150 par. 375,000 Ordinary Shares, $5 par 640,000 Paid-in Capital in Excess of Par-Ordinary Shares 60,000 Retained Earnings 325,000 What would Machado's total shareholders' equity be if Machado had $10,000 of treasury shares? A. $1,390,000 B. $1,488,500 C. $1,377,500 D. $1,065,000