A resident company owned by two resident individuals has an opening credit balance of $7000 in its franking account in this income year. It has the following transactions in the year

1. on 18 July it paid a PAYG instalment of $30000
2. on 29 august it paid a $35000 cash dividend franked to 80%
3. on 3 September it received a $28000 cash dividend franked to 90%
4. on 21 September it paid a$7000 cash dividend with franking credit of $1800 attached
5. on 5 October salaries paid to one of its shareholders were deemed to be dividend under DIV 7A of the ITAA 1936. The amount of deemed dividend was $21000
6. on 2 February it received an income tax refund of $18000 from ATO
7. on 10 March it paid a $20000 cash dividend franked to 95%
8. it had a $90000 PAYG instalment due on 21 April but did not pay it until 3 July in the following income year
9. Prepare the company's franking account for this income year
10. the assessment year is 2020-2021