August, Inc. had the following transactions in 2018, its first year of operations:

25,000 shares of common stock. The stock has par value of $2.00 per share and was issued at $ 19.00 per share.

Issued 1,600 shares of $110.00 par value preferred stock at par.

Earned net income of 35,000

Paid no dividends

At the end of 2018, what is total stockholders' equity?

A. 686,000

B. 651,000

C. 425,000

D. 226,000