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Required information [The following information applies to the questions displayed below) Incentive Corporation was authorized...

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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: 3 a. Issued 5,300 shares of common stock for cash at $23 per share. b. Issued 1,300 shares of common stock for cash at $26 per share. 4. Incentive Corporation has $47,000 in the company's bank account. At year-end, the accounts reflected a profit of $300. What is the maximum amount of cash dividends the company can declare and distribute? Maximum amount of cash dividends

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