ParentCo and SubCo Had the Following Items of Income and Deduction

Multiple Choice

ParentCo and SubCo had the following items of income and deduction for the current year. $\begin{array}{lcc}\text { Item } & \begin{array}{c}\text { ParentCo's } \\\text { Taxable Income }\end{array} & \text { SubCo's Taxable Income} \\\text { Income (loss) from Operations } & \$ 100,000 & \$ 10,000\\\S 1231 \text { Loss }&(10,000) \\\text { Capital Gain }&&12,000\\\text { Charitable Contribution } & 20,000 & 1,000\end{array}$ Compute ParentCo and SubCo's consolidated taxable income or loss.

A) $91,000
B) $100,800
C) $112,000
D) $122,000