Need help for solving Hspace with <ul> list

Hi Somebody help me to solve the problem with <ul><li> with images.
I used images with Hspace and Vspace and beside the images i make list. its overlapping in Firefox and not seen in IE7
http://www.goalsettingthatworks.com/demo/index.html
mycode:
<!DOCTYPE html PUBLIC “-//W3C//DTD XHTML 1.0 Transitional//EN” “http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd”>
<html xmlns=“http://www.w3.org/1999/xhtml”>
<head>
<meta http-equiv=“Content-Type” content=“text/html; charset=iso-8859-1” />
<title>Beijing Attractions</title>
<style>
#IPbody {
font-size: 11px;
color: #444444;
width:500px;
font-family: verdana, Arial, Helvetica, sans-serif;
line-height:14px;
margin:0px;
padding:0px;
display:block;
float:left;
overflow:hidden;
}
#IPbody ul{margin:0px 0px 0px 30px;}
#IPbody ul li{padding:0px 0px 5px 0px; list-style:disc;}
</style>
</head>
<body>
<div id=“IPbody”>
<img src=“beijin.jpg” alt="" width=“205” height=“215” hspace=“10” vspace=“3” align=“left” />
The starting point in doing business in Singapore is usually a decision on the type of entity that is best suited to the needs of the owners and other factors, such as: <br />
<br />
<ul>
<li>Ownership and control </li>
<li>Taxation </li>
<li>Legal exposure and risk </li>
<li>Compliance </li>
<li>Ease of formation and exit. </li>
</ul>
</div>
</body>
</html>