Browns Pty Ltd, an investment company, paid the following dividends to shareholders: $35,000 fully franked on 15 July 2018 $35,000 fully franked on 15 January 2019 $21,000 unfranked paid on 15 July 2019 (declared on 20 June 2019) Franking account balance at 30 June 2018 was $8,500 credit REQUIRED: Using the template provided: (a) (b) (c) Prepare a franking account How much (if any) franking deficit tax will be payable by Browns? How much of the franking deficit tax can be used to offset future tax liabilities (show calculation)?