LO.7, 8 Determine consolidated taxable income for the calendar year Yeti Group, which elected consolidated status immediately

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LO.7, 8 Determine consolidated taxable income for the calendar year Yeti Group, which elected consolidated status immediately upon the creation of the two member corporations on January 1, 2011. All recognized income is ordinary in nature, and no intercompany transactions were completed during the indicated years.

Year Yeti Corporation Snowman Corporation 2011 $450,000 $ 70,000 2012 450,000 (310,000)

2013 450,000 (600,000)

2014 450,000 75,000

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