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Accounting

will be sure to leave good feedback
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At the beginning of its current fiscal year, Willie Corp's balance sheet showed assets of $12,600 and liabilities of $5,400. During the year, llabilities decreased by $1,000. Net income for the year was $2,700, and net assets at the end of the year were $7,700. 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.) Stockholders' Equity Assets =Liabilities + PIC RE 0+ Beginning: $12,600 $ 5,400+ $ Changes: (1,000) + 0+ Ending: 0

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