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

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Accounting

At the beginning of its current fiscal year, Willie Corporation's balance sheet showed assets of $11,200 and liabilities of $6,500. During the year, liabilities decreased by $1,30 Q. Net income for the year was $2,750, and net assets at the end of the year were $5,350. 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. Note: Enter decreases with a minus sign to indicate a negative financial statement effect.
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