Solution for QID #34608: Question 1Facts: Mellisa Co Ltd obtains income for 30 Jun | StudyHelpMe

Question 1Facts: Mellisa Co Ltd obtains income for 30 June 2020 from the following Australian sources, assume a corporate tax rate of 30%: Trading net income $60,000 Rental income of $4,000 Public company franked distribution $21,000 Public company unfranked distribution $16,000 Franking credits $9,000 Required - Answer in the space provided. Show all working.a) What is the total trading income? (1 mark) b) What is the total dividend income? (1 mark) c) What is total taxable income? (3 marks)