Assume the following: A company earned net income of $150,000 during the year ended December 31, 2016. On December 15, the company declared the regular dividend on its 4% preferred stock (13,000 shares with total par value of $130,000) and a $0.25 per share dividend on its common stock (45,000 shares with total par value of $450,000). The company paid the dividends on January 4, 2017 Did Retained Earnings increase or decrease during 2016? By how much? During 2016, retained earnings Co bys