Cynthia and Andreas seeking your advice regarding Border Pty Ltd's franking account. (Please note: use all figures/information provided from Statement of Advice 1 above to construct the franking account for 2020/21. Opening balance is provided below). Required 1) 1 July 2020, the balance in Border Pty Ltd's franking account was $7,158. Construct Border Pty Ltd's franking account for the 2020/21 financial year. You also need to calculate the franking account balance as at 30 June 2021. 2) Border Pty Ltd wishes to pay a final fully franked dividend of $40,000 on 30 June 2021. However, Andreas and Cynthia are concerned about the franking account to go into deficit. Calculate and advise the maximum frankable distribution amounts that Border Pty Ltd can pay as fully franked dividend. What are the tax consequences if Border Pty Ltd goes ahead and pays $40,000 fully franked dividend on 30 June 2021? 3) Assuming Border Pty Ltd paid $40,000 fully franked dividend on 30 June 2022 (only dividend paid for the year), comment on the tax treatment of the dividend to the following four (4) shareholders: Cynthia & Andreas Rafter receive a dividend of $15,000 each. They are Australian residents at the highest marginal tax rate. $5,000 to Justin Rafter, the son of Cynthia & Andreas, who has been studying in London for three years and is a foreign resident. $5,000 to Leaf Pty Ltd, an Australian private company with a 30% company income tax rate. Advise how each of the above four shareholders of Border Pty Ltd would be taxed on the distribution received in 2021/22