Required information E11-2 (Algo) Reporting Stockholders' Equity and Determining Dividend Policy [LO 11-2, LO 11-3] [The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par value. During its first year, the following selected transactions were completed: a. Issued 6,200 shares of common stock for cash at $22 per share. b. Issued 2,200 shares of common stock for cash at $25 per share. E11-2 (Algo) Part 4 4. Incentive Corporation has $32,000 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