Beacon, Incorporated reported the following amounts at the end of the first year of operations:

Common stock	$ 332,000
Sales revenue	$ 1,328,000
Total assets	$ 996,000
Dividends declared and paid	$ 76,000
Total liabilities	$ 400,000

What are the retained earnings of Beacon at the end of the year, and what amount of expenses were incurred during the year?

Answer rating: 100% (QA)

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