On January 1, 2020, Castaway Corp. issued 5,000 shares of preferred stock ($15 par value) at $46 per share. Each share of preferred stock is redeemable at the option of the stockholder at $46 per share. On September 1, 2020, preferred shareholders holding 1,000 shares of preferred stock redeemed their stock. The entry recorded by Castaway Corp. on September 1, 2020, would include the following:

A. No net change to stockholders equity

B. A decrease to Paid in Capital of stockholders equity of $46,000

C. A decrease to assets for $45,000

D. Preferred stock would be debited for $46,000