Exercise 8-24 (Algorithmic) (LO.5) The Parent consolidated group reports the following results for the tax year Income or Loss Entity Parent Sub1 $73,400 (7,340) 29,360 14,680 Sub2 Sub3 Do not round any division in your computations. If required, round your answers to nearest whole dollar. If an amount is zero, enter "o". a. What is the group's consolidated taxable income and consolidated tax liability? If the relative taxable income method, the consolidated taxable income iss 110,100 V and the total consolidated tax liability is 23,121 V. 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 and 3? Entity Income or Loss 14,382 X Parent Previous NE Check My Work LIGNE dollar. If an amount is zero, enter "0". a. What is the group's consolidated taxable income and consolidated tax liability? If the relative taxable income method, the consolidated taxable income is 110,100 and the total consolidated tax liability is 23,121 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 s 14,382 Subi S 0 > Sub2 6,012 X Sub3 $ 3,083 X h Foodback Check My Work revious Next > Check My Work