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    Apr 3, 2013, 10:52 AM
    How can I calculate declared dividends and total assets?
    Hello,
    I really need help one of my assignment questions. Thanks.

    At the beginning of the current fiscal year, Surrey Corp.'s balance sheet showed assets of $675,000 and Liabilities of $525,000. During the year, liabilities decreased by $35,000. Net Income for the year was $175,000, and net assets at the end of the year were $193,000. 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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