Consider the following simplified financial statements for the Phillips Corporation (assuming no income taxes): Income Statement Balance Sheet Sales $20,000 Assets $10,300 Debt $4,100 Costs 13,900 Equity 6,200 Net income $6,100 Total $10,300 Total $10,300 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. (