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

Income Statement		Balance Sheet
Sales	$27,000	Assets	$10,600	Debt	$4,900
Costs	14,000			Equity	5,700
Net income	$13,000	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