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 $$10,000$ and liabilities of $$6,100.$ During

the year, liabilities decreased by $$1,200.$ Net income for the year was $$3,350,$ and net assets at the end of the year were $$4,550.$ 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.