3 6 points P6-17 Consolidated Income Statement Data LO 6-4 Paint Corporation owns 60 percent of Stain Company's shares. Partial 20X2 financial data for the companies and consolidated entity were as follows: Paint Corporation Sales elook Cost of Goods Sold Inventory, Dec. 31 $550,000 310,000 180,000 References Stain Company $450,000 300,000 210,000 Consolidated Totals $820,000 420,000 375,000 On January 1, 20x2, Paint's inventory contained items purchased from Stain for $75,000. The cost of the units to Stain was $50,000. All intercorporate sales during 20X2 were made by Stain to Paint. Required: a. What amount of intercorporate sales occurred in 20X2? Amount of intercorporate sates b. How much unrealized intercompany profit existed on January 1, 20X2? On December 31, 20X2? January December Unrealized intercompany profit