Green Bay has a controlling interest in Packer's outstanding stock. At the current year-end, the following information has been accumulated for these two companies:

	Operating Income	Dividends Paid
Green Bay	$742,500	$120,000
	(includes a $163,000 net unrealized gross profit on intra-entity inventory transfers)
Packer	272,500	55,000

Green Bay uses the initial value method to account for the investment in Packer. The operating income figures just presented include neither dividend nor other investment income. The effective tax rate for both companies is 40 percent.

a.	Assume that Green Bay owns 100 percent of Packer's voting stock and is filing a consolidated tax return. What income tax amount does this affiliated group pay for the current period?

Income tax

$

b.	Assume that Green Bay owns 92 percent of Packer's voting stock and is filing a consolidated tax return. What amount of income taxes does this affiliated group pay for the current period?

Income tax

$

c.	Assume that Green Bay owns 80 percent of Packer's voting stock, but the companies elect to file separate tax returns. What is the total amount of income taxes that these two companies pay for the current period?

Total amount of income tax

$

d.	Assume that Green Bay owns 70 percent of Packer's voting stock, requiring separate tax returns. What is the total amount of income tax expense to be recognized in the consolidated income statement for the current period?

Total amount of income tax expense

$

e.	Assume that Green Bay owns 70 percent of Packer's voting stock so that separate tax returns are required. What amount of income taxes does Clarke have to pay for the current year?

Income tax

$