During the current year the total assets of Mifflinburg Corporation
During the current year, the total assets of Mifflinburg Corporation decreased by $60,000 and total liabilities decreased by $300,000. The company issued $100,000 of new stock, and its net income for the year was $250,000. No other changes to stockholders’ equity occurred during the year. Determine the dollar amount of dividends declared by the company during the year.

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