Assessable income from business. John is a sport coach, offering his service to schools and local sports clubs. He operates his business on an accrual basis for tax purposes. During the 2012/13 financial year he had the following receipts. Cash takings from coaching session - $20000 Receipts from regular customer bookings - $150000 Capital contributed - $10000 GST received - $28000 Fully franked dividend - $2500 (John dividend amount times 30/70 = John credit) John also had the following balances (excluding GST) - Income received in advance as at 30 June 2012 - $15000 - Income received in advance as at 30 June 2013 - $12000 Calculate his assessable income for the year ended 30 June 2013