On December 31, 2016, the shareholders' equity section of Kay Inc.was as follows:
Common shares, no par value: authorized 30,000 shares;
On March 31, 2017, when the market value of Kay's shares was $27 per share, the corporation declared a 20% stock dividend, and accordingly 1,800 additional shares were issued.For the three months ended March 31, 2017, Kay reported a net loss of $48,000.The balance of Kay's retained earnings at March 31, 2017, should be

Question

On December 31, 2016, the shareholders' equity section of Kay Inc.was as follows:
Common shares, no par value: authorized 30,000 shares; 
On March 31, 2017, when the market value of Kay's shares was $27 per share, the corporation declared a 20% stock dividend, and accordingly 1,800 additional shares were issued.For the three months ended March 31, 2017, Kay reported a net loss of $48,000.The balance of Kay's retained earnings at March 31, 2017, should be

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The Answer of On December 31, 2016, the shareholders' equity section of Kay Inc.was as follows:
Common shares, no par value: authorized 30,000 shares; 
On March 31, 2017, when the market value of Kay's shares was $27 per share, the corporation declared a 20% stock dividend, and accordingly 1,800 additional shares were issued.For the three months ended March 31, 2017, Kay reported a net loss of $48,000.The balance of Kay's retained earnings at March 31, 2017, should be

On December 31, 2016, the Shareholders' Equity Section of Kay