The Shareholders' Equity Section of Zagreb Corp

Multiple Choice

The shareholders' equity section of Zagreb Corp. at December 31, 2019 was: Common shares, no par value; authorized 20,000 shares; On February 28, 2020, when the market value of Zagreb's shares was $ 12 per share, the board of directors declared a 15% stock dividend, and accordingly 1,500 additional shares were issued. For the two months ended February 28, 2020, Zagreb reported a net loss of $ 20,000.
What amount should Zagreb report as retained earnings at February 28, 2020?

A) $ 162,000
B) $ 180,000
C) $ 182,000
D) $ 198,000