ABC issues 500,000 shares of preferred stock for $60 a share. The stock has a fixed annual dividend rate of 5% and a par value of $18 per share. The current price of the preferred stock is $64 a share. If sufficient dividends are declared, preferred stockholders can anticipate receiving annual dividends of: A) $0.90 per share. B) $3.20 per share. C) $2.10 per share. D) $3.00 per share. ABC has 100,000 shares outstanding with a par value of $2. On March 3, it declared a 100% stock dividend, when its stock price was $15. As a result of this stock dividend, retained earnings: A) decreased by $200,000. B) decreased by $1,500,000. C) increased by $100,000. D) increased by $1,500,000