P4-1 Pro Forma Statements [LO1]

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

Income Statement		Balance Sheet
Sales	$24,000	Assets	$9,100	Debt	$5,200
Costs	13,900			Equity	3,900
Net income	$10,100	Total	$9,100	Total	$9,100

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.)