During 2011, Li\& Fung Corporation earned revenue of HK6,150,000, incurred expenses of expenses of $ \mathrm{HK} 4,630,000 $, and paid dividends of $ H K 420,000 $. Net income for the 2011 is

Question

Quizplus · Accepted Answer

Net income is calculated as revenue minus expenses. Therefore, $ \mathrm{HK} 6,150,000 - \mathrm{HK} 4,630,000 = \mathrm{HK} 1,520,000 $. Dividends do not affect the calculation of net income.

During 2011, Li\& Fung Corporation Earned Revenue of HK6,150,000, Incurred HK4,630,000 \mathrm{HK} 4,630,000 HK4,630,000

During 2011, Li\& Fung Corporation Earned Revenue of HK6,150,000, Incurred $\mathrm{HK} 4,630,000$