Beacon, Incorporated reported the following amounts at the end of the first year of operations: Contributed Capital (Common stock & Additional paid-in capital) $ 308,000 Sales revenue $ 1,232,000 Total assets $ 924,000 Dividends declared $ 64,000 Total liabilities $ 500,000 What are the retained earnings of Beacon at the end of the year, and what amount of expenses were incurred during the year