Stroud Corporation Is an 80%-Owned Subsidiary of Pennie, Inc

Stroud Corporation is an 80%-owned subsidiary of Pennie, Inc., acquired by Pennie several years ago. On January 1, 20X2, Pennie sold land with a book value of $60,000 to Stroud for $90,000. Stroud resold the land to an unrelated party for $100,000 on September 26, 20X3. The gain from sale of land that will appear in the consolidated income statements for 20X2 and 20X3, respectively, is ____.

A) $0 and $10,000
B) $0 and $40,000
C) $30,000 and $10,000
D) $30,000 and $40,000