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At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $12,500 and liabilities of $6.000. During the year, liabilities decreased by $1,000. Net income for the year was $2,600, and net assets at the end of the year were $7,000. 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.) Answer is complete but not entirely correct. Beginning: Changes: Assets $12,500 (5,500) Liabilities $ 6,000 (1.000) Stockholders' Equity PIC RE 0 $ 4,500 2,600 (7,100) $ 2,000 - .Net Income - Dividends Ending: $ 7,000 - $ 5,000 +