Exercise 2-13 (Algo) Calculate dividends using the accounting equation LO 2, 3 1.11 points At the beginning of its current fiscal year, Willie Corp's balance sheet showed assets of $10,100 and liabilities of $6,000. During the year, liabilities decreased by $1,400. Net income for the year was $3,150, 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. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) eBook Hint Beginning: Changes: Assets = $ 10,100 = = Stockholders' Equity PIC + RE $ 0 + 0 + Liabilities + $ 6,000 + (1,400) + + Print References