16. The stockholders' equity section of XYZ 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, XYZ sustained a net loss of $15,000. What amount should XYZ report as retained earnings as of March 1, 2018? 17. LMN Company has 490,000 shares of $10 par value common stock outstanding. During the year LMN declared a 15% stock dividend when the market price of the stock was $36 per share. Three months later LMN declared a $.60 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by