Platinum Corporation acquired $13,300$ shares of the common stock and $500$ shares of the $8$ percent preferred stock of Silver Company on December $31,20\backslash$times $4,$ at the book value of the underlying stock interests. At that date, the fair value of the noncontrolling interest in Silver's common stock was equal to $30$ percent of the book value of its common stock interest. Silver reported the following balance

$01$:$13$:$47$

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Silver'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 $1,205.$ Silver reports net income of $$48,000$ for $205$ and pays no dividends.

Required:

a$.$ Present the worksheet consolidation entry feeded to prepare a consolidated balance sheet on January $1,205.$

b$.$ Assuming that Platinum reported income from its separate operations of $$90,000$ in $205,$ compute the amount of consolidated net income and the amount of income to be assigned to the controlling shareholders in the $205$ consolidated income statement.