Question: Exercise 8 - 2 8 ( Algorithmic ) ( LO . 8 ) Parent Corporation's current - year taxable income included $ 2 2 9

Exercise 8-28(Algorithmic)(LO.8) Parent Corporation's current-year taxable income included $229,200 net income from operations and a $22,920 net long-term capital gain. Parent also made a $11,460 charitable contribution. SubCo generated $103,140 income from operations and incurred a $4,584 short-term capital loss. a.How much is Parent's separate taxable income? Parent's separate taxable income is $fill in the blank 1. b.How much is SubCo's separate taxable income? SubCo's separate taxable income is $fill in the blank 2. c.How much is consolidated taxable income? The consolidated taxable income is $fill in the blank 3.

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