Question 1 (50 marks) Goatfish Limited is a company incorporated in Hong Kong on 1 January 2017. It adopts the Mandatory Provident Fund (MPF) Scheme for its employees. The mandatory contributions of both employer and employee are at 5% of the employee's salary. The maximum mandatory contribution is $1,500 monthly. The financial year end of Goatfish Limited is 31 December. The total number of employees in Goatfish Limited is 28. All of them joined the company since 1 January 2017. The employees in Goatfish Limited are divided into two types: Executive Level and General Level. The information about the employment contracts of the two types of employees is as follows: Erecutive Level General Level 10 Number of employees Monthly salary Annual leave 18 80,000 40 days $20,000 21 days Unused leave cannot beUnused leave can be carried forward to next year and convertible into cash upon employment termination carried forward to next vear and convertible into cash upon employment termination 15 days Unused leave cannot be carried forward to next year 15 days Unused leave cannot be carried forward to next year Sick leave None of the employees took any annual leave in 2017 Question 1 (50 marks) Goatfish Limited is a company incorporated in Hong Kong on 1 January 2017. It adopts the Mandatory Provident Fund (MPF) Scheme for its employees. The mandatory contributions of both employer and employee are at 5% of the employee's salary. The maximum mandatory contribution is $1,500 monthly. The financial year end of Goatfish Limited is 31 December. The total number of employees in Goatfish Limited is 28. All of them joined the company since 1 January 2017. The employees in Goatfish Limited are divided into two types: Executive Level and General Level. The information about the employment contracts of the two types of employees is as follows: Erecutive Level General Level 10 Number of employees Monthly salary Annual leave 18 80,000 40 days $20,000 21 days Unused leave cannot beUnused leave can be carried forward to next year and convertible into cash upon employment termination carried forward to next vear and convertible into cash upon employment termination 15 days Unused leave cannot be carried forward to next year 15 days Unused leave cannot be carried forward to next year Sick leave None of the employees took any annual leave in 2017