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At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $10,200 and liabilities of $5,400. During the year, liabilities decreased
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $10,200 and liabilities of $5,400. During the year, liabilities decreased by $1,100. Net income for the year was $2,350, and net assets at the end of the year were $5,150. There were no changes in paid-in capital during the year. Required Calculate the dividends, if any, declared during the year. (Negative amounts should be indicated by a minus sign.) Stockholders' Equity Assets Liabilities PIC RE Beginning:10,2005,400S Changes 1,100) Ending Stockholders' Equity Assets Liabilities +PIC+ RE Beginning:$ 10,200 5,400$0+ (1,100) + Changes Ending - Dividends - Net income + Dividends +Net income
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