Question: Exercise 2-13 (Algo) Calculate dividends using the accounting equation LO 2, 3 At the beginning of its current fiscal year, Willie Corp.'s balance sheet

Exercise 2-13 (Algo) Calculate dividends using the accounting equation LO 2, 3

Exercise 2-13 (Algo) Calculate dividends using the accounting equation LO 2, 3 At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $13,900 and liabilities of $6,400. During the year, liabilities decreased by $1,000. Net income for the year was $3,250, and net assets at the end of the year were $8,350. 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.) 6,400 $ Assets Liabilities Beginning: $ 13,900 Changes: (1,000)+ Stockholders' Equity PIC RE 0+ Ending:

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