A resident company has an opening credit balance of $10,000 in its franking account. It has the following fransactions in fhe year: - On 1 July 2021, the company received an unfranked dividend of $10,000 - On 5 August 2021, It paid a dividend of $20,000 franked to 70% - On 15 September 2021 it received a dividend of $15.000 fully franked - It had a $40,000 PAYG instalment due 28 February 2022 and was paid belore the due date - On 25 March 2022, it paid a dividend of $25,000 franked to 60% - On 15 May 2022, a loan to a shareholder was deemed to be a dividend The amount was 570,000 - It had a $40,000 PAYG instatment due 30 June 2022 and paid the instaiment on 10 July 2022 REQUIRED: Prepare the Company's franking account for the 2022 income year. Justify your calculations using legislation and case law. (10 Marks) Your client Accountant's Ply Lid has provided the following benafits to the company's Manager - Payment for an estimated cost of electricity used in her home offce. Total amount paid during the FBT year was 5750 . b Loan at an interest rate of 1\%. The loan was used for private purposes. The total amount lant was 555.000. The loan was proviced on 1 April 2021 c. On 1 . January 2022 a car was provided to the employee for, private use. The total cost of the car was $45,000. d Paid for relocation expenses to move the Manager from Alice Springs to Darwin. The total cost of $6,000 paid directly to the transport company REQUIRED: Advise Accountant's Pty Ltd which of the above items will be subject to Fringe Benefits Tax and determine the Fringe Benefits tax payable for the Fringe Benefit year ended 31 March 2022. Justify your comments using legisiation and case law. (10 Marks) For the toobye press a LT+FTO (PC) or ALT+FN+FTo CMack