As of December 31, 2016, Warner Corporation reported the following: Dividends payable $31,000 Treasury stock 710,000 Paid-in capital - share repurchase 31,000 Other paid-in capital accounts 5,100,000 Retained earnings $4,100,000 During 2017, half of the treasury stock was resold for $262,000; net income was $710,000; cash dividends declared were $1,610,000; and stock dividends declared were $610,000. The 2017 sale of half of the treasury stock would:

A: Reduce retained earnings by $93,000

B: Reduce retained earnings by $62,000

C: Increase total shareholders' equity by $355,000

D: Reduce income before tax by $93,000