20.Thompson Ltd was incorporated on 1 January 2023. A private placement of 2000 shares at $1 a share was made and the public was invited to subscribe for 20 000 shares at the same price. The public issue called for payment in the following instalments: 80 cents on allotment and payment of the call for the balance outstanding by 30 September 2024. Applications were received for 18 000 shares. All money due on allotment was received by 30 May 2023. The balance of the Share Capital of Thompson Ltd at 30 June 2023 was:

Group of answer choices

1.$16 400

2.$22 000

3.$14 400

4.$16 000