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Atlantic Corporation reported the following amounts at the end of the first year of operations, December 31, 2012: contributed capital of $100,000; sales revenue of $400,000; total assets of $300,000;$20,000 dividends; and total liabilities of $160,000. Retained earnings and total expenses would be. A) Retained earnings of $40,000 and expenses of $340,000. B) Retained earnings of $60,000 and expenses of $320,000. C) Retained earnings $140,000 and expenses $240,000. D) Retained earnings $160,000 and expenses $220,000