What amount of expenses were incurred during the year, Accounting Basics

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What amount of expenses were incurred during the year

Question: Atlantic Corporation reported the following amounts at the end of the first year of operations: Common stock $200,000 Sales revenue $800,000 Total assets $600,000 Dividends declared $40,000 Total liabilities $320,000 What are the retained earnings of Atlantic at the end of the year, and what amount of expenses were incurred during the year?

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Accounting Basics: What amount of expenses were incurred during the year

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Accounting Basics: What amount of expenses were incurred during the year

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