Company A purchased 75% percent of the voting common stock of Company B. on January 1, 2018. During the year, Company A made sales of inventory to Company B. The inventory cost Company A $240,000 and was sold to Company B for $400,000. Ontario still had 20% of the goods in its inventory at the end of the year. Calculate the amount of unrealized inter-company profit which should be eliminated in the consolidation process at the end of 2018 is?