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At the beginning of its current fiscal year, Willie Corporation's balance sheet showed assets of $13,700 and liabilities of $5,900. During the year, liabilities

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At the beginning of its current fiscal year, Willie Corporation's balance sheet showed assets of $13,700 and liabilities of $5,900. During the year, liabilities decreased by $1,100. Net income for the year was $2,950, and net assets at the end of the year were $8,450. There were no changes in paid-in 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. Stockholders' Equity + RE Assets = Liabilities + PIC Beginning: $ 13,700 = || Changes: = $ 5,900 + $ (1,100) + 0+ 0+ Changes: Ending: + 0+

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