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

Income StatementBalance SheetSales$22,000Assets$10,600Debt$4,200Costs14,400Equity6,400Net 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.)

rev: 09_17_2012

$7,685

$7,708

$7,679

$7,691

$15,730