At the beginning of its current fiscal year, Willie Corp.s balance sheet showed assets of $15,000 and liabilities of $6,500. During the year, liabilities decreased by $1,000. Net income for the year was $2,450, and net assets at the end of the year were $9,050. 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. (Enter decreases with a minus sign to indicate a negative financial statement effect.)

Check my work At the beginning of its current fiscal year, Willie Corp's balance sheet showed assets of $15,000 and liabilities of $6,500. During the year, liabilities decreased by $1,000. Net income for the year was $2,450, and net assets at the end of the year were $9,050. There were no changes in paid-in capital during the year. 10 Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) points eBook Stockholders' Equity Hint Assets = Liabilities + PIC RE Print $ 15.000 $ 8,500 Beginning: 6,500 + References (1,000) + Changes Ending