14. The stockholders' equity section of Lawton Corporation as of December 31, 2006, was as follows: Common stock, par value $2; authorized 20,000 shares; issued and outstanding 10,000 shares Paid-in capital in excess of par Retained earnings $ 20,000 30,000 60,000 $120,000 On March 1, 2007, the board of directors declared a 15% stock dividend, and accordingly 1,800 additional shares were issued. On March 1, 2007, the fair market value of the stock was $5 per share. For the two months ended February 28, 2007, Lawton sustained a net loss of $8,000. What amount should Lawton report as retained earnings as of March 1, 2007? * (3 Points) $56,000. $43,000. O 548,400. $50.200