During 2011, Li& Fung Corporation earned revenue of HK6,150,000, incurred expenses of expenses of HK4,630,000,and paid dividends of HK420,000.Net income for the 2011 is

Name: During 2011, Li& Fung Corporation earned revenue of HK6,150,000, incurred expenses of expenses of HK4,630,000,and paid dividends of HK420,000.Net income for the 2011 is
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Question

Quizplus · Accepted Answer

Net income is calculated as revenue minus expenses. Therefore, HK6,150,000 - HK4,630,000 = HK1,520,000. Dividends do not affect net income calculation.

During 2011, Li& Fung Corporation Earned Revenue of HK6,150,000, Incurred