At the beginning of its current fiscal year, Willie Corporation's balance sheet showed assets of $14,500...

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At the beginning of its current fiscal year, Willie Corporation's balance sheet showed assets of $14,500 and liabilities of $5,900. During the year, liabilities decreased by $1,100. Net income for the year was $2,450, and net assets at the end of the year were $8,950. 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 Assets Liabilities + PIC + RE Beginning: $ 14,500 = $ 5,900 + 0+ Changes: II (1,100) + 0+ Changes: Ending: || + 0+ At the beginning of its current fiscal year, Willie Corporation's balance sheet showed assets of $14,500 and liabilities of $5,900. During the year, liabilities decreased by $1,100. Net income for the year was $2,450, and net assets at the end of the year were $8,950. 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 Assets Liabilities + PIC + RE Beginning: $ 14,500 = $ 5,900 + 0+ Changes: II (1,100) + 0+ Changes: Ending: || + 0+