Consider the following simplified financial statements for the Phillips Corporation (assuming no income taxes):

Income Statement		Balance Sheet
Sales	$26,000	Assets	$10,600	Debt	$5,700
Costs	13,600			Equity	4,900
Net income	$12,400	Total	$10,600	Total	$10,600

Phillips has predicted a sales increase of 11 percent. It has predicted that every item on the balance sheet will increase by 11 percent as well.

Required:

Calculate the dividend paid. (Do not round your intermediate calculations.)

rev: 09_17_2012

$13,203

$23,998

$13,209

$13,198

$13,225