On January 1, 2023, Abbey acquires 90 percent of Benjamin's outstanding shares. Financial information for these two companies for the years 2023 and 2024 follows (credit balances indicated by parentheses): Assume that a tax rate of 21 percent is applicable to both companies. Required: a. On consolidated financial statements for 2024, what are the income tax expense and the income tax currently payable if Abbey and Benjamin file a consolidated tax return as an affiliated group? b. On consolidated financial statements for 2024 , what are the income tax expense and income tax currently payable if they choose to file separate returns? \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline \multicolumn{8}{|c|}{ ACME CORPORATION AND CONSOLIDATED SUBSIDIARIES } \\ \hline \multicolumn{8}{|c|}{ Consolidation Worksheet } \\ \hline \multicolumn{8}{|c|}{ December 31, 2024} \\ \hline \multirow{2}{*}{ Accounts } & \multirow{2}{*}{\begin{tabular}{c} Acme \\ Corporation \end{tabular}} & \multirow{2}{*}{\begin{tabular}{c} Beta \\ Company \end{tabular}} & \multirow{2}{*}{\begin{tabular}{l} Cade \\ Company \end{tabular}} & \multicolumn{2}{|c|}{ Consolidation Entries } & \multirow{2}{*}{\begin{tabular}{c} Noncontrolling \\ Interest \end{tabular}} & \multirow{2}{*}{\begin{tabular}{c} Consolidated \\ Balance \end{tabular}} \\ \hline & & & & Debit & Credit & & \\ \hline Sales and other revenue & (1,016,930) & (859,200) & 390,400 & & & & \\ \hline Cost of goods sold & 576,000 & 370,000 & 216,000 & & & & \\ \hline Operating expenses & 285,000 & 290,000 & 99,900 & & & & \\ \hline Income of Beta Company & (144,270) & & & & & & \\ \hline Income of Cade Company & (29,800) & (29,800) & & & & & \\ \hline Net income & (330,000) & (229,000) & 74,500 & & & & \\ \hline Consolidated net income & & & & & & & 0 \\ \hline \multicolumn{8}{|c|}{ Net income attributable to noncontrolling interest (Beta) } \\ \hline \multicolumn{8}{|l|}{ Net income attributable to noncontrolling interest (Cade) } \\ \hline Net income attributable to Acme Corporation & & & & & & & 0 \\ \hline \multicolumn{8}{|l|}{ Retained earnings, 1/1/24 : } \\ \hline Acme Corporation & 851,000 & & & & & & \\ \hline Beta Company & & 688,000 & & & & & \\ \hline Cade Company & & & 240,000 & & & & \\ \hline Net income & 330,000 & 229,000 & 74,500 & & & & \\ \hline \multicolumn{8}{|l|}{ Dividends declared } \\ \hline Acme Corporation & 100,000 & & & & & & \\ \hline Beta Company & & 96,000 & & & & & \\ \hline Cade Company & & & 50,000 & & & & \\ \hline Retained earnings, 12/31/24 & (1,081,000) & (821,000) & 264,500 & & & & 0 \\ \hline Cash and receivables & 51,770 & 275,200 & 72,500 & & & & \\ \hline Inventory & 432,950 & 320,000 & 260,700 & & & & \\ \hline Investment in Beta Company & 1,033,480 & & & & & & \\ \hline Investment in Cade Company & 165,800 & 165,800 & & & & & \\ \hline Buildings & 424,000 & 410,000 & 166,000 & & & & \\ \hline Equipment & 251,000 & 212,000 & 88,700 & & & & \\ \hline Land & 201,000 & 352,000 & 21,600 & & & & \\ \hline \multicolumn{8}{|l|}{ Trademarks } \\ \hline \multicolumn{8}{|l|}{ Franchise contracts } \\ \hline Total assets & (2,560,000) & (1,735,000) & 609,500 & & & & 0 \\ \hline Liabilities & (659,000) & (604,000) & 195,000 & & & & \\ \hline \multicolumn{8}{|l|}{ Noncontrolling interest in Cade } \\ \hline \multicolumn{8}{|l|}{ Noncontrolling interest in Beta } \\ \hline Noncontrolling interest in subsidiary companies & & & & & & 0 & \\ \hline Common stock & (820,000) & (310,000) & 150,000 & & & & \\ \hline Retained earnings & (1,081,000) & (821,000) & 264,500 & & & & \\ \hline Total liabilities and equities & (2,560,000) & (1,735,000) & 609,500 & 0 & 0 & & 0 \\ \hline \end{tabular}