Exercise 2-15 (Algo) Calculate dividends using the accounting equation LO 2-2, 2-3 At the beginning of its current fiscal year, Willie Corporation's balance sheet showed assets of $14,800 and liabilities of $5,200. During the year, liabilities decreased by $800. Net income for the year was $2,650, and net assets at the end of the year were $10,250. 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. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Stockholders' Equity Beginning: $ FA Changes: Changes: Ending: Assets Liabilities + PIC RE 14,800 = $ II 5,200 + $ (800) + 0 + $ 0 + 9,600 2,650 + Net income Dividends $ 4,400 + 0 +