Sing Tao Inc $\mathrm{HK} \$ 11,450,000$ , Earned Revenue Of

question 221

Multiple Choice

Sing Tao inc. began operations on June 2, 2011. During June, Sing Tao sold ordinary shares for $\mathrm{HK} \$ 11,450,000$ , earned revenue of $\mathrm{HK} \$ 2,020,000$ , incurred expenses of $H K \$ 1,030,000$ , and paid dividends of $\mathrm{HK} \$ 30,000$ . Retained earnings at June 30,2011

• A) \( \mathrm{HK} \$ 960,000 \)
• B) \( \mathrm{HK} \$ 990,000 \)
• C) \( H K \$ 12,410,000 \)
• D) \( H K \$ 13,471,000 \)