What amount should the company report as retained earnings

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Reference no: EM131791925

Question: On December 31, 2014, the Stockholders' Equity section of Mercedes Corporation was as follows:

On March 1, 2015, the board of directors declared a 10% stock dividend and accordingly issued 900 additional shares. The stock's fair value at that time was $8 per share. For the three months ended March 31, 2015, Mercedes sustained a net loss of $16,000.

Required: What amount should the company report as retained earnings on its quarterly financial statement dated March 31, 2015?

Reference no: EM131791925

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