On June 30, 20X5, Darnell Corp. (DC) had the following shares outstanding:

Common shares: 60,000 shares issued and outstanding $600,000

Preferred shares: 1,000 shares issued and outstanding 100,000

Total share capital$610,000

DC has never repurchased shares before. As such, it does not have any contributed surplus arising from share repurchases. On July 1, 20X5 DC re purchased 100 common shares on the open market for $14 per share and 100 preferred shares for $95 per share. What is the total balance in Darnell's contributed surplus accounts immediately after these transactions are recorded?

a.$100 CR

b.$500 DR

c.$500 CR

d.$100 DR