Please assist with the given problem.
On December 31, 2005 the stockholders' equity section of Mercedes Corporation was as follows:
Common stock ($5 par value); authorized 30,000
Shares, issued and outstanding 9,000 shares $45,000
Additional paid-in capital 58,000
Retained earnings 73,000
Total stockholders' equity $176,000
On March 1, 2006 the board of directors declared a 10% stock dividend and accordingly, 900 additional shares were issued. The fair value of the stock at that time was $8 per share. For the three months ended march 31, 2006 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, 2006?