Amount reported as retained earnings

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Reference no: EM13132669

On March 1, 2011, the board of directors declared a 15% stock dividend, and accordingly 1,500 additional shares were issued. On March 1, 2011, the fair market value of the stock was $6 per share. For the two months ended February 28, 2011, Gunkel sustained a net loss of $10,000.

What amount should Gunkel report as retained earnings as of March 1, 2011?

Reference no: EM13132669

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