Please provide answer for this Australian-based question

QUESTION TWO Salvador Ryan is an accountant and the Director of his accounting practice, Darwin Taxation Services Pty Ltd. The following gures do not include EST. The company receipts and payments for the year ended 30 June 2013 are as follows: Receipts $ 600,000 Professional accounting fees 25,000 Sales of DoItYourself Superannuation guides 12,000 Dividend received from an Australian company franked to 50% 5,000 Interest on Bank Deposits 10,000 Rental income from an investment property 2,000 Prot on sale of ofce equipment [note 1) sso Dividend from shares in [BM {USA} {3] Payments '5 14,000 Ofce rent 10,000 Cost of DoItYourself Superannuation guides {note 2) 33,000 Salary paid to employee secretary 1,000 Train fare for travel to and from work 1,000 Legal fees for preparing a new lease of the ofce 2,000 Rates paid on abovemcntioned investment property 15,000 Interest paid on loan to acquire the investment property 5,000 Cost of painting the investment property immediately after purchasing the property 1,000 Cost of replacing roof tiles on the investment property after the roof was damaged in a severe storm in February 2013 15,000 Cost of extending the bathroom in the investment property 136,000 Cost of a new BMW for Salvador to use 100% for business purposes Notes {1) Prot on sale of ofce equipment. The ofce equipment was purchased on 1 July 2016 for $10,000. Salvador estimated its effective life for taxation purposes at the time of purchase at 10 years. He uses the prime cost method. Sale proceeds sale date 30 June 2018 $5,000 Net book value based on accounting depreciation m Profit 2% {2] The Opening stock value for tax purposes was $19,000. The FIFO Method however produces the following results for the DoItYourself Superannuation guides at the end of the year: 5 Cost Price 12,000 Replacement Price 9,000 Market Selling 1iul'alue 14,000 {3] Withholding tax of $150 was paid in the US. {4] The company has a cany forward past year tax loss of $42,000. {5] The company has made PAYS W of $150,000 during the year. REQUIRED 1. Calculate Company's tax payable for the year ended 30 I une 2010. Provide justication for your calculations using Australian legislation and case law. Please present the calculation clearlyl 2Advise Ryan to Whis tax liability for the year. {20 marks}