Compute consolidated taxable income for the calendar year for Blue Group, which elected consolidated status immediately upon creation of its two member corporations in January of year 1. All recognized income is earned through the consulting services of the firms. No intercompany transactions were completed during the indicated years

Tax Year Blue Corporation $250,000 250,000 250,000 250,000 Orange Corporation (S 70,000) (30,000) (240,000) 85,000 4