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 fa 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 , 20X2? Complete this question by entering your answers in the tabs below. Prepare the journal entry for the stock dividend. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Prepare the journal 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 Note: Enter debits before credits. 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 fai value at 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? Complete this question by entering your answers in the tabs below. What amount should the company report as retained earnings on its quarterly financial statement dated March 31,202