Parent Corporation's Current-Year Taxable Income Included $100,000 Net Profit from Operations

Parent Corporation's current-year taxable income included $100,000 net profit from operations and a $30,000 net long-term capital gain. Parent also made a $22,000 contribution to State University. SubCo produced $85,000 of income from operations and incurred a $25,000 net short-term capital loss.
Use the computational worksheet of Exhibit 8.3 to derive the group members' separate taxable incomes and the group's consolidated taxable income. $$\begin{array}{l}\begin{array} { | l | | l | l | | l | | l | } \hline & \begin{array} { l } \text { Separate } \\\text { Taxable } \\\text { Income }\end{array} & \text { Adjustments } & \begin{array} { l } \text { Post- } \\\text { Adjustment } \\\text { Amounts }\end{array} \\\hline \hline \text { ParentCo Information } & & & \\\hline \hline \text { SubCo Information } & & & \\\hline \hline \begin{array} { l } \text { Group-Basis } \\\text { Transactions }\end{array} & & & \\\hline \hline \begin{array} { l } \text { Intercompany } \\\text { Events }\end{array} & & & \\\hline \hline \text { Consolidated } \\\text { Taxable Income } & & & \\\hline \hline\end{array}\\\text { NOTES }\end{array}$$