The stockholders' equity section of Gunkel Corporation as of December 31, 2014, was as follows: On March 1, 2015, the board of directors declared a 15% stock dividend, and accordingly 1, 500 additional shares were issues. On March 1, 2015, the fair value of the stock was $6 per share. For the two months ended February 28, 2015, Gunkel sustained a net loss of $15,000. What amount should Gunkel report as retained earnings as of March 1, 2015