Consider the following simplified financial statements for the Phillips Corporation (assuming no income taxes): Income Statement Balance Sheet Sales $23,000 Assets $9,600 Debt $4,200 Costs 14,100 Equity 5,400 Net income $8,900 Total $9,600 Total $9,600 Phillips has predicted a sales increase of 8 percent. It has predicted that every item on the balance sheet will increase by 8 percent as well. Required: Calculate the dividend paid. (Do not round your intermediate calculations.)