Xylophone Pty Ltd is a private company with a number of shareholders who are all founders of the entity. The opening balance of the companys franking credit account had a credit balance of $34,000. It also the following transactions in the 30 June 2021 year: 1) On 29 August 2020, it paid a $70,000 cash dividend franked to 80%. 2) On 3 September 2020, it received a $56,000 cash dividend franked to 90%. 3) On 21 September 2020, it paid a $14,000 cash dividend with franking credits of $2,600 attached. Required - Prepare a franking credit account in the space provided. Show full workings.