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At the beginning of its current fiscal year, Willie Corporation's balance sheet showed assets of $ 1 0 , 1 0 0 and liabilities of
At the beginning of its current fiscal year, Willie Corporation's balance sheet showed assets of $ and liabilities of $ During the year, liabilities decreased by $ Net income for the year was $ and net assets at the end of the year were $ There were no changes in paidin capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. Note: Enter decreases with a minus sign to indicate a negative financial statement effect.
At the beginning of its current fiscal year, Willie Corporation's balance sheet showed assets of $ and liabilities of $ During
the year, liabilities decreased by $ Net income for the year was $ and net assets at the end of the year were $ There
were no changes in paidin capital during the year.
Required:
Calculate the dividends, if any, declared during the year. Indicate the financial statement effect.
Note: Enter decreases with a minus sign to indicate a negative financial statement effect.
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