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Consider the following simplified financial statements for the Phillips Corporation (assuming no income taxes): Income Statement Balance Sheet Sales $25,000 Assets $10,000 Debt $4,600 Costs
| Consider the following simplified financial statements for the Phillips Corporation (assuming no income taxes): |
| Income Statement | Balance Sheet | ||||
| Sales | $25,000 | Assets | $10,000 | Debt | $4,600 |
| Costs | 13,200 | Equity | 5,400 | ||
| Net income | $11,800 | Total | $10,000 | Total | $10,000 |
| 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.) |
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Fundamentals of corporate finance
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
10th edition
978-1260013955, 78034639, 978-0078034633
