4. Atlantic Corporation reported the following amounts at the end of the first year of operations, December 31, 2008: paid-in capital $100,000; sales revenue $400,000; total assets $300,000; dividends $20,000, and total liabilities $160,000. Retained earnings and total expenses would be A retained earnings $40,000 and expenses $340,000. B. retained earnings $60,000 and expenses $320,000. C. retained earnings $40,000 and expenses $240,000. D. retained earnings $60,000 and expenses $220,000