5. Componies-franking account (comprehensive) Simple Pty Ltd, a corporate tax entity, has the following transactions for the 2015/16 tax year: Date 30/06/2015 12/07/2015 Transaction 4,200 4,200 21/07/2015 20/08/2015 15/10/2015 01/12/2015 15/01/2016 19/02/2016 Debit Balance Franking Deficit Tax Paid (from 2014/15 franking account) PAYG tax instalment Received Fully Franked Dividend PAYG tax instalment Refund of 2014/15 company tax Paid 80% Franked Dividend Received Dividend from South Africa ($3,000 tax withheld) Paid Unfranked Dividend 5,900 20,650 5,900 11,000 13,300 7,000 15/04/2016 7,750 Note-the benchmark franking percentage is 80%. The ATO has not been notified of any variation Required: a) Prepare the franking account for the 2015/16 tax year. b) Calculate any additional taxes payable