ParentCo and SubCo report the following items of income and deduction for the current year.

ParentCo$$s

SubCo$$s Taxable

Item

Taxable Income

Income

Income $($loss$)$ from operations

$$100,000$

$($$$10,000)$

$1231$ loss

$(5,000)$

Capital gain

$15,000$

Charitable contribution

$12,000$

Compute ParentCo and SubCo$$s current year consolidated taxable income or loss.

$$90,500$

$$81,000$

$$88,000$

$$90,000$