Determine dollar amount of dividends declared by company
Course:- Financial Accounting
Reference No.:- EM13144131

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During the current year, the total assets of Mifflinburg Corporation decreased by $ 60,000 and total liabilities decreased by $ 300,000. The company issued $ 100,000 of new stock, and its net income for the year was $ 250,000. No other changes to stockholders’ equity occurred during the year. Determine the dollar amount of dividends declared by the company during the year.

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