Lilly Inc. had the following balances at 12/31/2024. Cash $2…
Lilly Inc. had the following balances at 12/31/2024. Cash $2,200, Accounts receivable $500, Land $6,300, Buildings $6,000, Accounts payable $600, Notes payable $12,000, Common stock $1,500, Retained earnings $900. What is the maximum amount of dividends that Lilly Inc. can declare and pay at 12/31/2024?