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,...

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