Atlantic Corporation reported the following amounts at the end of the first year of operations: Common stock Sales revenue Total assets Dividends declared Total liabilities $130,000 $730,000 $530,000 $ 44,000 $340,000 What are the retained earnings of Atlantic at the end of the year, and what amount of expenses were incurred during the year? Multiple Choice 0 Retained earnings are $60,000 and expenses incurred totaled $626,000 Retained earnings are $60,000 and expenses incurred totaled $670,000. O Retained earnings are $190,000 and expenses incurred totaled $540,000 Retained earnings are $190,000 and expenses incurred totaled $320,000