QUESTION 3 (20 MARKS: 36 MINUTES) Maikel Hang Trust, a resident trust body was established in 2018. The beneficiaries of the trust are Annie, Bella, Charlie, Dylan and Eva. The trust body reported the income and expenses for the year ended 31 December 2020 as follows: Note RM Malaysia Gross Business Income 1 320,000 Dividend 200,000 Singapore Interest Income 96,000 Rental Income 2 220,000 Note: 1. The expenses for business income include revenue expenditure and capital expenditure amounting RM80,000 and RM30,000 respectively. 2. Rental expenses comprise of renovation and maintenance of property amounting to RM 10,000 and RM5,000 respectively. Additional information: i. One-third (1/3) of the income is to be paid to Annie and Bella at the ratio of 2:3. The remainder is to be distributed to Charlie and Dylan as the trustee deem fit. ii. As a widow, Annie is ought to receive RM12,000 per annum. iii. The amount paid to Charlie and Dylan for the year of assessment 2020 is RM15,000 and RM10,000 respectively. iv. An accumulation amount of RM1,000 per month is to be paid to Eva until she reaches 18 years old. v. Trustee fees of RM24,000 per annum is to be paid to Felicia for services rendered in administering the trust body. vi. Capital allowance for year of assessment 2020 was RM35,000. REQUIRED: (a) Compute the distributable income and total income for the trust body for the year of assessment 2020. (14 Marks) (b) Compute the statutory income of each beneficiary for the year of assessment 2020. (6 Marks)