At the beginning of its current fiscal year, Willie Corp.s balance sheet showed assets of $11,800 and liabilities of $5,200. During the year, liabilities decreased by $1,100. Net income for the year was $2,800, and net assets at the end of the year were $7,300. There were no changes in paid-in capital during the year. Calculate the dividends, if any, declared during the year. Indicate the financial statement effect.