At December 31, 2016, the Balance of Glasgow Ltd

At December 31, 2016, the balance of Glasgow Ltd.'s retained earnings account was $450,000.During 2017, the company had the following transactions:
Acquired 5,000 treasury shares at $75 per share.The shares are no par value and had originally been issued for $65 per share.There had been no previous treasury share transactions.
Net income for 2017 was $400,000.
Sold the 5,000 treasury shares at $80 per share.
What is the balance in retained earnings at December 31, 2017?

A) $900,000
B) $850,000
C) $775,000
D) $762,500