3 inces At the beginning of the current fiscal year, Mindspin Lab's balance sheet showed assets of $1,350,000 and liabilities of $1,050,000. During the year, liabilities decreased by $70,000. Net Income for the year was $350,000, and Stockholder's Equity at the end of the year were $386,000. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Calculate the total assets at the end of the year. Dividends Total assets at the end of the year

At the beginning of the current fiscal year, Mindspin Lab's balance sheet showed assets of $1,350,000 and llabilities of $1,050,000. During the year, liabilities decreased by $70,000. Net income for the year was $350,000, and Stockholder's Equily at the end of the year were $386,000. There were no changes in paid-in capital during the year. Required: Calculate the dividends, If any, declared during the year. Calculate the total assets at the end of the year At the beginning of the current fiscal year, Mindspin Lab's balance sheet showed assets of $1,350,000 and tiabilities of $1,050,000 Duting the year, liabilities decreased by $70,000. Net Income for the year was $350,000, and Stockholder's Equity at the end of the yeat were $386,000. There were no changes in pald in capital during the year Required: Calculath the dividends, if any, declared during the year. Calculate the total assets at the end of the year