Glacier Corp. (Glacier) is a joint venture in which Baker Inc. (Baker) has a 40% interest. The financial statements of both companies are shown below on December 31, 2020 : Baker uses the equity method to account for its joint venture investment but has yet to make any journal entries for 2020 . During 2020, Baker sold $100,000 of merchandise ( $40,000 cost to Baker) to Glacier JV. At the end of 2020, Glacier had sold 40% of the inventory purchased from Baker. Glacier also still owed $40,000 to Baker at the end of 2020 . Baker uses the proportionate consolidation method to report its Investment in Glacier Corp. for 2020. Both companies are subject to 40% tax rate. Required: A. What is the total amount of Inventory that would be on Baker's Consolidated Balance Sheet at December 31 , 2020? B. What is the Baker's consolidated Net Income for the year ended December 31, 2020