Please complete required A and B.

Corporation Powns 93 percent of the outstanding stock of Corporation T. This year, the corporation's records provide the following information: Ordinary operating income (loss) Capital gain (loss) Section 1231 gain (loss) Corporation P $ 740,000 (7,700) (2,350) Corporation T $(320,000) 8,400 8,600 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 I 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 files a separate tax return. (Net loss(es) should be indicated by a minus sign.) Corporation P's Separate Return Corporation I's Separate Return Taxable income (NOL)