Which of the following statements is CORRECT? a. 50% of the dividends received by corporations is excluded from taxable income. b. Retained earnings, as reported on the balance sheet, represent the amount of cash a company has available to pay out as dividends to shareholders. c. 50% of the interest received by corporations is excluded from taxable income. d. Because taxes on long-term capital gains are not paid until the gain is realized, investors must pay the top individual tax rate on that gain. e. The corporate tax system favors equity figancing, as dividends paid are deductible from corporate taxes