At the beginning of its current fiscal year, Willie Corp.s balance sheet showed assets of $13,000 and liabilities of $5,000. During the year, liabilities decreased by $800. Net income for the year was $3,050, 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. (Neg

					Stockholders Equity
	Assets	=	Liabilities	+	PIC	+	RE
Beginning:	$13,000	=	$5,000	+	$0	+
Changes:		=	(800)	+	0	+
Ending:		=		+	0	+