During the year ended 30 June 2020, Fedlin Pty Limited (an Australian resident private company) had the following events that might be relevant to its franking account:

1-Jul-2020	Opening balance of franking account	$65,000
15-Jul-2020	Payment of dividend franked to 65%	$380,000
3-Aug-2020	Payment of payroll tax	$170,000
28-Aug-2020	Payment of June 19 PAYG instalment	$27,000
31-Jan-2020	Refund of income tax	$160,000
22-Feb-2020	Receipt of dividend from company outside the group, franked to 80%	$280,000
2-Mar-2020	Payment of dividend franked to 40%	$420,000
31-Mar-20	Payment of income tax	$54,000
13-Apr-20	Refund of land tax	$149,000
6-May-20	Payment of fringe benefits tax	$6,000
30-Jun-20	Payment of dividend franked to 70%	$380,000

Required:

a) Create the franking account with explanations.

b) Explain any further taxes for which the Company might be liable.