Boulder Corporation owns all of the stock of PebbleCo, so they constitute a Federal affiliated group and a parent-subsidiary controlled group. By completing the following chart, delineate for Boulder's tax department some of the effects of an election to file Federal consolidated income tax returns. Situation a. Both Boulder and PebbleCo produce taxable profits from manufacturing activities, If the Group Files a Consolidated return _________ If Separate Income Tax Returns Continue to Be Filed _________ b. PebbleCo pays Boulder an annual royalty for use of the Boulder trademarks. If the Group Files a Consolidated return _________ If Separate Income Tax Returns Continue to Be Filed _________ c. Boulder uses a calendar tax year, while PebbleCo's tax year-end is March 31. If the Group Files a Consolidated return _________ If Separate Income Tax Returns Continue to Be Filed _________ d. Boulder claims a credit for its foreign tax payments, while Pebble claims a deduction for them. If the Group Files a Consolidated return _________ If Separate Income Tax Returns Continue to Be Filed _________