On January 1, 2013, Piranto acquires 90 percent of Slinton's outstanding shares. Financial information for these two companies for the years of 2013 and 2014 follows: Note: Parentheses indicate a credit balance. 2013 2014 Piranto Company: Sales Operating expenses Unrealized gross profits as of end of year (included in above figures) Dividend income-Slinton Company $(600,000) $(800,000) 400,000 500,000 (120,000) (150,000) 18,000) (36,000) Slinton Company: Sales Operating expenses Dividends paid (200,000) (250,000) 120,000 150,000 (20,000) (40,000) Assume that a tax rate of 40 percent is applicable to both companies. a. On consolidated financial statements for 2014, what are the income tax expense and the income tax currently payable if Piranto and Slinton file a consolidated tax return as an affiliated group? Income tax payable b. On consolidated financial statements for 2014, what are the income tax expense and income tax currently payable if they choose to file separate returns? Income tax expense Income tax payable