O'Neill Incorporated began the year with retained earnings of$515,000. During the year, the company recorded revenues of$535,000, expenses of $412,000, borrowed $100,000 from the bank,and paid divi O'Neill Incorporated began the year with retained earnings of \( \$ 515,000 \). During the year, the company recorded revenues of \( \$ 535,000 \), expenses of \( \$ 412,000 \), borrowed \( \$ 100,000 1 answer