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On December 31, 2006, the stockholders' equity section of Clark, Inc., was as below.

On December 31, 2006, the stockholders' equity section of Clark, Inc., was as below. On March 31, 2007, Clark declared a 10% stock dividend, and accordingly 900 additional shares were issued, when the fair market value of the stock was $18 per share. For the three months ended March 31, 2007, Clark sustained a net loss of $32,000. The balance of Clark's retained earnings as of March 31, 2007, should be

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