Corporation P owns 93 percent of the outstanding stock of Corporation T. This year, the corporation's records provide the following information: Corporation P Corporation T Ordinary operating income (loss) 5. 679,699 $ (285,699) Capital gain (1055) (7,999) 7,799 Section 1231 gain (1055) (1,659) 7,298 Required: 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. Complete this question by entering your answers in the tabs below. Required A Required B Compute each corporation's taxable income if each les a separate tax return. Note: Net loss(es) should be indicated by a minus sign. Teeee meememom Required B > Corporation P owns 93 percent of the outstanding stock of Corporation T. This year, the corporation's records provide the following information: Corporation P Corporation T Ordinary operating income (loss) $ 676,666 $ (285,666) Capital gain (loss) (7,666) 7,766 Section 1231 gain (loss) (1,656) 7,266 Required: 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. Complete this question by entering your answers in the tabs below. Required A Required B Compute consolidated taxable income if Corporation P and Corporation T le a consolidated tax return