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Required information [The following information applies to the questions displayed below]...

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Accounting

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Required information [The following information applies to the questions displayed below] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value During its first year, the following selected transactions were completed: a. Issued 6,000 shares of common stock for cash at $20 per share b. Issued 2,000 shares of common stock for cash at $23 per share. Incentive Corporation has $30,000 in the company's bank account. At year-end, the accounts reflected a profit of $100. What is the maximum amount of cash dividends the company can declare and distribute

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