On December 31, 20X1, the Stockholders' Equity section of Mercedes Corporation was as follows: On March 1,20X2, the board of directors declared a 10% stock dividend and accordingly issued 900 additional shares. The stock's fair value ot that time was $8 per share. For the three months ended March 31, 202, Mercedes sustained a net loss of $16,000. Required: 1a. Prepare the journal entry for the stock dividend. 1b. What amount should the company report as retained earnings on its quarterly financial statement dated March 31, 20X2? value at that time was $8 per share. For the three months ended March 31, 20X2. Mercedes sustained a net loss of $16,000 Required: 1a. Prepare the journal entry for the stock dividend. 1b. What amount should the company report as retained earnings on its quarterly financial statement dated March 31, 20 202? Complete this question by entering your answers in the tabs below. Prepare the joumal entry for the stock dividend. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet