26. Jones Company owns 100% of Bruce Inc. and appropriately applies the equity method. During the current year, Jones sold $100,000 of inventory to Bruce Company for $150,000. Bruce Company sold half of the inventory to outsiders for $120,000. 

1. What is the amount of consolidated gross profit from these transactions?

$0.

$20,000

$50,000

$70,000

$75,000

27. Reference question #26 what is the amount of unrealized profit (if any?) in the Bruce Company ending inventory?

$0

$25,000

$50,000

$75,000

$100,000