5 Part 4 of 4 0.53 points eBook Hint Print References ! Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed: a. Issued 5,600 shares of common stock for cash at $21 per share. b. Issued 1,600 shares of common stock for cash at $24 per share. 4. Incentive Corporation has $44,000 in the company's bank account. At year-end, the accounts reflected a profit of $300. What is the maximum amount of cash dividends the company can declare and distribute? Maximum amount of cash dividends Ch.

Required information (The following information applles to the questions displayed below) Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transoctions were completed: a. Issued 5,600 shares of common stock for cash at $21 per share. b. Issued 1,600 shares of common stock for cash at $24 per share. Incentive Corporation has $44,000 in the company's bank account At year-end, the accounts reflected a profit of $300. What is the maximum amount of cash dividends the company can declare and distribute