On December 31, 2019, the Shareholders' Equity Section of Kay

Multiple Choice

On December 31, 2019, the shareholders' equity section of Kay Inc. was as follows: Common shares, no par value: authorized 30,000 shares; On March 31, 2020, 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, 2020, Kay reported a net loss of $ 48,000. The balance of Kay's retained earnings at March 31, 2020, should be

A) $ 164,400.
B) $ 213,000.
C) $ 216,600.
D) $ 261,600.