1.66 points 1 Corporation P owns 93 percent of the outstanding stock of Corporation T. This year, the corporation's records provide the following information: Corporation P Ordinary operating income (loss) $ 670,000 Corporation T $ (285,000) Capital gain (loss) (7,000) 7,700 Section 1231 gain (loss). (1,650) 7,200 Required: eBook a. Compute each corporation's taxable income if each files a separate tax return. b. Compute consolidated taxable income if Corporation P and Corporation T file a consolidated tax return. Print References Complete this question by entering your answers in the tabs below. Required A Required B Compute each corporation's taxable income if each files a separate tax return. (Net loss(es) should be indicated by a minus sign.) Corporation P's Separate Return Corporation T's Separate Return Taxable income (NOL) < Required A Required B >