During June, Sing Tao Inc.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 HK$30,000.Net income for June is

Question

Quizplus · Accepted Answer

Net income is calculated as total revenue minus total expenses. For Sing Tao Inc., net income for June is HK$2,020,000 (revenue) - HK$1,030,000 (expenses) = HK$990,000. Dividends and share sales do not affect net income calculation.