At the Beginning of the Current Fiscal Year, Mindspin Lab's

Essay

At the beginning of the current fiscal year, Mindspin Lab'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.