I need help with part a of this problem... I'm stuck. I'm not sure now to come up with the percentagesand I have to provide formulas in the cells. Can someone please help me?

P9-20 Subsidiary Preferred Stock Outstanding Emerald Corporation acquired 10,500 shares of the common stock and 800 shares of the 8 percent preferred stock of Pert Company on December 31, 20X4, at underlying book value. At that date, the fair value of the noncontrolling interest in Pert's common stock was equal to 30 percent of the book value of its common stock. Pert reported the following balance sheet amounts on January 1, 20X5: Pert's preferred stock is $100 par value, and its common stock is $10 par value. The preferred dividends are cumulative and are two years in arrears on January 1, 20X5. Pert reports net income of $34,000 for 20X5 and pays no dividends. Required a. Present the worksheet elimination entries needed to prepare a consolidated balance sheet on January 1, 20X5. Book Value Calculations: NCI 60%/30% Beginning book value common stock ownership) (9,600) + Dividends in arrears to owners Ending book value + Inv. PS 40% 80,000 + Inv. CS 70% 12,800 92,800 = Preferred Stock 200,000 200,000 b. Assuming that Emerald reported income from its separate operations of $80,000 in 20X5, compute the amount of consolidated net income and the amount of income to be assigned to the controlling shareholders in the 20X5 consolidated income statement. Consolidated net income and income to controlling interest Operating income of Emerald Corp Net income of Pert Co Consolidated net income Income to noncontrolling interest Income from preferred stock of Pert Co Income from common stock of Pert Co Income to noncontrolling interest Income to controlling interest 80,000 34,000 114,000 9,600 5,400 (15,000) 99,000 + Common Stock 150,000 150,000 + Retained Earnings 200,000 200,000 P9-20 Subsidiary Preferred Stock Outstanding Emerald Corporation acquired 10,500 shares of the common stock and 800 shares of the 8 percent preferred stock of Pert Company on December 31, 20X4, at underlying book value. At that date, the fair value of the noncontrolling interest in Pert's common stock was equal to 30 percent of the book value of its common stock. Pert reported the following balance sheet amounts on January 1, 20X5: Pert's preferred stock is $100 par value, and its common stock is $10 par value. The preferred dividends are cumulative and are two years in arrears on January 1, 20X5. Pert reports net income of $34,000 for 20X5 and pays no dividends. Required a. Present the worksheet elimination entries needed to prepare a consolidated balance sheet on January 1, 20X5. Book Value Calculations: NCI 60%/30% Beginning book value -Dividends in arrears (based on common stock ownership) + Dividends in arrears to owners Ending book value + Inv. PS 40% 80,000 + Inv. CS 70% = Preferred Stock 200,000 (9,600) 12,800 92,800 200,000 b. Assuming that Emerald reported income from its separate operations of $80,000 in 20X5, compute the amount of consolidated net income and the amount of income to be assigned to the controlling shareholders in the 20X5 consolidated income statement. Consolidated net income and income to controlling interest Operating income of Emerald Corp Net income of Pert Co Consolidated net income Income to noncontrolling interest Income from preferred stock of Pert Co Income from common stock of Pert Co Income to noncontrolling interest 80,000 34,000 114,000 9,600 5,400 (15,000) Income to controlling interest 99,000 + Common Stock 150,000 150,000 + Retained Earnings 200,000 200,000