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What amount should gunkel report as retained earnings

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Reference no: EM131723839

Question - The stockholders' equity section of Gunkel Corporation as of December 31, 2017, was as follows:

Common stock, par value $2; authorized 20,000 shares; 

issued and outstanding 10,000 shares

 $20,000

Paid-in capital in excess of par

30,000

Retained earnings

85,000

$135,000

On March 1, 2018, the board of directors declared a 15% stock dividend, and accordingly 1,500 additional shares were issued. On March 1, 2018, the fair value of the stock was $6 per share. For the two months ended February 28, 2018, Gunkel sustained a net loss of $15,000.

What amount should Gunkel report as retained earnings as of March 1, 2015?

Reference no: EM131723839

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