All amounts are in Australian dollars. Ignore GST. Ralox Pty Lid (Ralox) is a stand-alone private company and has a distributable surplus of $1 million at 30 June 2023. Ralox lodged its tax return for the income year ended 30 June 2023 on 30 September 2023 (the due date is 15 December 2023). During the income year ended 30 June 2023, Ralox entered into the following transactions: $10,000 interest-free undocumented loan to Adam (a shareholder) that was repaid in August 2023. $20,000 undocumented loan to Julie (a shareholder) that was repaid in October 2023. The loan had an interest rate of 4.77% and a term of 14 months. $30,000 interest-free undocumented loan to Fred (an employee who is not a shareholder), who used his loan to pay for a holiday in Greece. $40,000 interest-free undocumented loan to Dorax Pty Lid, another private company which is an associate of Ralox. Required Determine whether there is a deemed dividend under Division 7A of the Income Tax Assessment Act 1936 for the income year ended 30 June 2023 for each transaction in items 1 to 4. If there is a deemed dividend, calculate the amount of that deemed dividend. Justify your answer for each item. You may use section references to support your answer, but these references will not be marked.