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The Planet Family Trust has the following income:$Dividend franked to 1 0 0 % 1 4 , 0 0 0 Dividends franked to 6 0

The Planet Family Trust has the following income:$Dividend franked to 100%14,000Dividends franked to 60%20,000Net rental income150,000The trustee made Jupiter specifically entitled to the dividend franked to 100% and Earth specifically entitled to the dividend franked to 60%. Along with their associated franking credits.The trustee decided to distribute $50,000 to Jupiter, $22,000 to Earth and any remaining amount to Neptune. Jupiter and Earth are both above 18 years of age.Neptune is 16 and also has a salary of $6,000 which they earn from a part-time job.REQUIRED:Calculate the franking credits (assume each company is a non-BRE), s 95 net income,Division 6E net income of the trust, the taxable income and net tax payable by Jupiter, Earth and Neptune and the tax payable, if any, by the trustee.

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