J Beacon, Incorporated reported the following amounts at the end of the first year of operations: Common stock Sales revenue Total assets Dividends declared Total liabilities $ 300,000 $ 1,200,000 Saved $ 900,000 $ 60,000 $ 480,000 Help Save & Exit Sub What are the retained earnings of Beacon at the end of the year, and what amount of expenses were incurred during the year?