Question Content AreaParentCo 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 $2023$ taxable income or loss computed on a separate basis.

ParentCo SubCo

a$.$ $$85,000$ $$3,000$

b$.$ $$85,500$ $$3,000$

c$.$ $$85,500$ $$5,000$

d$.$ $$85,000$ $$5,000$