The following closing balances are provided for QWE Ltd as of June 30, 2020:

• Retained Profits $60,000
• Capital $520,000
• General reserve $40,000
• Revaluation reserve $50,000

The company generated a net profit of $15,000 after tax during this fiscal period. 

The company paid $50,000 to repurchase 2,000 shares originally issued at $20 each during the fiscal year. 

The company declared and paid a total of $30,000 cash dividends during the fiscal year.

 The company transferred $15,000 of retained earnings to general reserve on May 20, 2020. 

The company issued bonus shares (worth $60,000) from the revaluation reserve on June 21, 2020. (ignore tax consequences)

Required

What is the opening balance for retained earnings on July 1, 2019?

What is the opening balance of capital (in dollars) on July 1, 2019?