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Calculate the dividends if any declared during the year

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Reference no: EM132478722

Point 1: At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $15,000 and liabilities of $6,500. During the year, liabilities decreased by $1,000. Net income for the year was $2,450, and net assets at the end of the year were $9,050. There were no changes in paid-in capital during the year.

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Question 1: 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.)

Reference no: EM132478722

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