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