Calculate the dividend paid

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Consider the following simplified financial statements for the Phillips Corporation (assuming no income taxes): Income Statement Balance Sheet Sales $22,000 Assets $10,600 Debt $4,200 Costs 14,400 Equity 6,400 Net income $7,600 Total $10,600 Total $10,600 Phillips has predicted a sales increase of 9 percent. It has predicted that every item on the balance sheet will increase by 9 percent as well. Required: Calculate the dividend paid. (Do not round your intermediate calculations.)

Reference no: EM132014311


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