How are the members of a federal consolidated group affected by computations related to e & p?

a. each member keeps its own e & p account.

b. e & p is computed solely on a consolidated basis. c. members’ e & p balances are frozen as big as the consolidation election is in place.

d. consolidated e & p is computed as the sum of the e & p balances of each of the group members, computed on the last day of the tax year.