At the beginning of the current fiscal year, Freds Frozen Frog Legs Inc. balance sheet showed assets of $675,000 and liabilities of $525,000. During the year, liabilities decreased by $35,000. Net Income for the year was $175,000, and net assets at the end of the year were $193,000. There were no changes in paid-in capital during the year.

The dividends, if any, declared during the year by Freds Frozen Frog Legs Inc. were:

1.		$0.
2.		$43,000.
3.		$132,000.
4.		$150,000.