Can I pick up a Wifi signal with one computer, and send internet to another computer with an Ethernet cable?

I'm in a weird position right now, so this isn't a usual scenario. Is it possible to pick up a wireless signal on a laptop, and send the internet from the laptop to a desktop using an Ethernet cable?
Update: And if so, how would I do it?
Update 2: Also, the desktop is Windows 7, and the laptop is Windows 8 Consumer Preview.
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