ParentCo and SubCo Recorded the Following Items of Income and Deduction

Multiple Choice

ParentCo and SubCo recorded the following items of income and deduction for the current tax year. $$\begin{array} { l c c } & \text { ParentCo's } & \text { SubCo's Taxable } \\\text { Item } & \text { Taxable Income } & \text { Income } \\\text { Income (Loss) from Operations } & \$ 100,000 & \$ 20,000 \\\S 1231 \text { Loss } & ( 8,000 ) & \\\text { Capital Gain (Loss) } & ( 10,000 ) & 14,000 \\\text { Charitable Contribution } & 20,000 & 1,000\end{array}$$ Compute ParentCo and SubCo's taxable income or loss computed on a separate basis. ParentCo SubCo

A) $78,300 $30,600
B) $80,000 $33,000
C) $81,000 $33,000
D) $82,800 $30,600
E) $82,800 $33,000