Apple Corporation reported the following amounts at the end of the first year of operations: Common stock $150,000 Sales revenue $750,000 Total assets $550,000 Dividends declared $ 46,000 Total liabilities $320,000 Calculate the retained eamings for Apple at the end of the year, and what amount of expenses were incurred during the year? Multiple Choice Retained earnings are $230,000 and expenses incuted totaled $520,000 Retained earnings are $230,000 and expenses incurred totaled $280,000 Retained earnings are 500,000 and expenses incurred totaled $670,000 Releined earnings are $80.000 and expenses incurred totaled $624,000