Question: On March 1 , 2 0 X 2 , the board of directors declared a 1 0 % stock dividend and accordingly issued 9 0

On March 1,20X2, the board of directors declared a 10% stock dividend and accordingly issued 900 additional shares. The stocks fair value at that time was $9 per share. For the three months ended March 31,20X2, Mercedes sustained a net loss of $16,000.
What amount should the company report as retained earnings on its quarterly financial statement dated March 31,20X2?

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