Sing Tao inc. began operations on June 2, 2011. During June, Sing Tao sold ordinary shares for HK$11,450,000, earned Revenue of HK$2,020,000, incurred expenses of HK $ \$ 1,030,000 $, and paid dividends of $ \mathrm{HK} \$ 30,000 $. Equity at the end of June is

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Equity at the end of June is calculated as: Initial equity from shares (HK$11,450,000) + Net income (Revenue - Expenses = HK$2,020,000 - HK$1,030,000 = HK$990,000) - Dividends (HK$30,000) = HK$12,410,000.

Sing Tao Inc $1,030,000 \$ 1,030,000 $1,030,000 , and Paid Dividends Of

Sing Tao Inc $\$ 1,030,000$ , and Paid Dividends Of