Exercise 8-24 (Algorithmic) (LO. 5) The Parent consolidated group reports the following results for the 2023 tax year: Entity Income or Loss Parent $29,200 Sub1 (2,920) Sub2 11,680 Sub3 5,840 Do not round any division in your computations. If required, round your answers to nearest whole dollar. If an amount is zero, enter "0". a. What is the group's consolidated taxable income and consolidated tax liability? Under the relative taxable income method, the consolidated taxable income is $fill in the blank 1 43,800 and the total consolidated tax liability is $fill in the blank 2 9,198 . b. If the Parent group has consented to the relative taxable income method, how will the consolidated tax liability be allocated among the Parent and Subsidiaries 1, 2, and 3? Entity Income or Loss Parent $fill in the blank 3 29,200 Sub1 $fill in the blank 4 0 Sub2 $fill in the blank 5 11,680 Sub3 $fill in the blank 6 5,840