All amounts are in Australian dollars. Ignore GST. Boof Pty Ltd (Boof) is an Australian resident company that sells office equipment to businesses and the public. Boof consistently has an aggregated turnover of more than $50 million. For the income year ended 30 June 2023, Boof has an accounting profit of $1,600,000. The following amounts are included in its statement of profit and loss for the income year ended 30 June 2023: Amount $ Notes Income Sales revenue 150,000,000 $29,000,000 remains owing by customers Dividend income 1,000,000 Represents the cash dividend received. The dividend was paid by a company with a corporate tax rate for imputation purposes of 30% and was franked to 80% Expenses Meal entertainment expenses (15,000) Represents the entire meal entertainment expense for the income year. Boof has elected to use the 50/50 split method to calculate its meal entertainment for fringe benefits tax (FBT) purposes. Employee speeding fines (5,000) Imposed by the state authorities Employee superannuation contributions (700,000) This amount was paid during the income year, except for $24,000 that was paid on 3 July 2023 Prepaid workers compensation insurance premium (1,500,000) Expense relates to the premium prepaid on 30 June 2022, which covers the period 1 July 2022 to 30 June 2023. This was initially recorded in 2022 as Dr Prepayment / Cr Cash and in 2023 as Dr Expense / Cr Prepayment On 30 June 2023, a premium of $1,700,000 was prepaid to cover the period 1 July 2023 to 30 June 2024. Boof used the same accounting approach as the prior year Bad debt expense (67,000) Relates to receivables from sales. Provision for doubtful debts as at 30 June 2022 was $10,000 and at 30 June 2023 it was $21,000. $56,000 was written off as bad during the income year ended 30 June 2023 Assume that the amounts in the table above are the only amounts that may require adjustments when preparing Boofs tax reconciliation. Required Calculate Boofs taxable income for the income year ended 30 June 2023 by preparing a reconciliation from accounting profit to taxable income and calculating the correct tax adjustment/s (even if the adjustment is nil). Show all workings. For each adjustment (including nil adjustments), provide the most relevant section reference