What is the result of this Assembly program?

I'm preparing for an exam where I have to find the results of x86 Assembly programs without a computer, in particular I have a problem with an example our teacher gave us:

MOV AX,6326
OR  EAX,0000FFF1h
AND EAX,0000000Fh
MOV BL,-1
SUB BL,250
MUL BL

What is AX?
If I try to do it by myself, the process seems to be:

After the OR and the AND, EAX is 00000007h, so 7 in decimal
SUB BL, 250 = -1 - 250 = -251
MUL BL = -251 x 7 = -1757, so without the sign AX is equal to 1757

But if I try to run it on VS, the result is 35.

I think that the difference is caused by the two's complement, but I don't understand why or where this change happens.

Solution

MOV AX,6326                 18B6h  AX
OR  EAX,0000FFF1h       0000FFF7h EAX
AND EAX,0000000Fh       00000007h EAX
MOV BL,-1                     FFh  BL
SUB BL,250                    05h  BL
MUL BL                      0023h  AX

You were right about EAX.
For MOV BL,-1 you should note that the CPU does not modify any flags while loading a register via MOV. This instruction could just as well have read MOV BL,255, since that is the actual bitpattern that gets stored in this register (-1 and 255 share the same bitpattern). If you look at it that way, the subtraction becomes a very normal 255 - 250 producing 5. The unsigned MUL that follows calculates the equally simple 7 * 5 producing 35.