P and S Corporations have filed consolidated tax returns for several years. The group had no intercompany inventory sales before the current year (Year 1). P and S use the first-in, first-out (FIFO) inventory method. During Year 1, S sells 50,000 widgets to P, earning $8 per unit profit on the sale. Also during Year 1, P sells 37,500 of these widgets to third parties for an additional $6 per unit profit. Thus, P’s inventory at the end of Year 1 includes 12,500 of unsold widgets. During Year 2, S sells 80,000 widgets to P, earning $9 per unit profit on the sale. Also during Year 2, P sells to third parties 65,000 of these widgets and also sells the 12,500 widgets from beginning inventory, all for an additional $6 per unit profit. Thus, P’s inventory at the end of Year 2 includes 15,000 widgets P purchased from S in Year 2. No intercompany inventory sales occur in Year 3. However, during Year 3, P sells all widgets in beginning inventory for an additional $7 per unit profit. In addition to these intercompany transactions, P incurs a $40,000 loss and S earns $500,000 of profit in each year from other business activities. What is the group’s consolidated taxable income for each of Years 1, 2, and 3? Ignore the U.S. production activities deduction.