The following selected list of accounts with their normal balances was taken from the general ledger of Grant Corporation as of December 31, 2014:

Cash $173,500

Common shares, 100,000 shares authorized, 38,000 shares issued 190,000

Retained earning 131,500

Cash dividends payable 25,000

Preferred shares, 300,000 shares authorized 200,000 shares issued 500,000

Refer to Table 131. The total shareholders' equity as of December 31, 2014 was:

A. $190,000

B. $846,500

C. $821,500

D. $881,500