Grinch Investments Trust was settled by a family friend in 2012 as an investment trust to benefit the members of the Grinch Family. Income and expenditure were as follows: Income Dividends from various companies in an extensive share portfolio - Dividends franked to 100% (attached franking credits of $20,700)-UnfrankeddividendsRentalincomefromaretailcomplexLeasepremiumProceedsfromthesaleofshares48,30015,70077,00015,00045,000 Expenditure Rental property deductions (all deductible under 81 ) 16,980 Additional information The Trust owned a retail premises which it rented out. The original tenants moved to a bigger space and the Trust secured new tenants in the current year. The new tenants paid a lease premium of $15,000 as noted above in the income of the trust The Trust sold shares in Bluechip Mining Ltd on 2 February 2022. Proceeds received from the sale was $45,000. The shares were acquired on 6 September 2013 for $23,200. At that time they paid brokerage of $232. The trust income was distributed as follows: 1. Cindy Lou Who (17) was made specifically entitled to all the franked dividends and received an additional distribution of $15,900 of other income. Cindy had left school in November 2021 and started working full-time in the post office on 15 November 2021. She continued working part-time when she began studying hospitality full-time at TAFE. Her salary from her employer was \$12,500 (PAYG withheld of $980 ). She also received interest of $1,900 from monies she invested from a legacy left to her from her grandmother's estate. 2. Max (25) was made specifically entitled to 100% of the capital gain made by the trust. Max lived off his trust distributions and did not have any other source of income during the year. However, he did have a carried forward capital loss of $16,800 from previous income tax years. 3. The Trustee exercised his discretion and paid $8,500 in respect of school fees for Drew Lou Who (12). 4. Martha May Whovier (52) was to receive a distribution of $30,000. She had no other income for the year. 5. The remaining income was to be held in the Trust for reinvestment purposes Required: 1. Calculate the net income and Division 6E income of the trust for the year ended 30 June 2022. 2. Calculate the taxable income (if any) of each beneficiary and the net tax payable by each beneficiary or the trustee. Explain and state the section numbers under which the Trust income will be assessed