Question: CH 8 HW Exercise 8-28 (Algorithmic) (LO. 9) Parent Corporation's current-year taxable income included $263,000 net income from operations and a $26,300 net long-term capital

CH 8 HW

Exercise 8-28 (Algorithmic) (LO. 9)

Parent Corporation's current-year taxable income included $263,000 net income from operations and a $26,300 net long-term capital gain. Parent also made a $13,150 charitable contribution. SubCo generated $118,350 income from operations and incurred a $5,260 short-term capital loss.

a. How much is Parent's separate taxable income? Parent's separate taxable income is $

b. How much is SubCo's separate taxable income? SubCo's separate taxable income is $

c. How much is consolidated taxable income? The consolidated taxable income is $

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