At the beginning of the current fiscal year, Surrey Corp.'s balance sheet showed assets of $1,350,000 and liabilities of $1,050,000. During the year, liabilities decreased by $70,000. Net Income for the year was $350,000, and net assets at the end of the year were $386,000. There were no changes in paid-in capital during the year.Calculate the dividends, if any, declared during the year.Calculate the total assets at the end of the year.

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The Answer of At the beginning of the current fiscal year, Surrey Corp.'s balance sheet showed assets of $1,350,000 and liabilities of $1,050,000. During the year, liabilities decreased by $70,000. Net Income for the year was $350,000, and net assets at the end of the year were $386,000. There were no changes in paid-in capital during the year.Calculate the dividends, if any, declared during the year.Calculate the total assets at the end of the year.

At the Beginning of the Current Fiscal Year, Surrey Corp