Question: At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $12,600 and liabilities of $6,300. During the year, liabilities decreased by $1,300. Net income for the year was $3,100, and net assets at the end of the year were $7,100. There were no changes in paid-in capital during the year.
Calculate the dividends, if any, declared during the year. (Negative amounts should be indicated by a minus sign.)
Assets 12,600 Liabilities PIC Retained Earnings
Beginning:________ 6,300 0 __________
Changes:________ 1,300 0 ___________
Ending:_________ 5,000 0 ___________