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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
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
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