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please help At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $14,700 and liabilities of $5,200. During the year,

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At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $14,700 and liabilities of $5,200. During the year, liabilities decreased by $1,300. Net income for the year was $3,500, and net assets at the end of the year were $10,700. 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.) Assets $ 14,700 - Liabilities $ 5.200 (1.300) Beginning Stockholders'Equity PIC - RE $ 0 Changes Ending

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