(Answered) Consider the following simplified financial statements for

Finance

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

Income Statement			Balance Sheet
Sales	$23,000	Assets	$15,800	Debt	$5,200
Costs	16,700			Equity	10,600
Net income	$6,300	Total	$15,800	Total	$15,800

Phillips has predicated a sales increase of 15 percent. It has predicated that every item on the balance sheet will increase by 15 percent as well.

Required:

Calculate the dividend paid.

$5,555
$5,755
$5,655
$4,875
$5,855

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