P4-1 Pro Forma Statements (LO1) Consider the following simplified financial statements for the Phillips Corporation (assuming no income taxes): Income Statement Sales $21,000 Assets Costs 13,800 Net income $7,200 Total Balance Sheet $9,000 Debt Equity $9,000 Total $5,800 3,200 $9,000 Phillips has predicted a sales increase of 10 percent. It has predicted that every item on the balance sheet will increase by 10 percent as well. Required: Calculate the dividend paid. (Do not round your intermediate calculations.)