Assume the following: company eamed net income of $90,000 during the year ended December 31, 2016. On December 15, the company declared the regular dividend on its 8% preferred stock (12,500 shares with total par value of $125,000) and a $0.25 per share- dividend on its common stock (40,000 shares with total par value of $400,000). The company paid the dividends on January 4, 2017. Did Retained Earnings increase or decrease during 2016? By how much? increased by $ During 2016, relained earnings