Please show every answer in steps:

Winner Corporation acquired 80 percent of the common shares and 70 percent of the preferred shares of First Corporation at underlying book value on January 1, 2009. At that date, the fair value of the noncontrolling interest in First's common stock was equal to 20 percent of the book value of its common stock. First's balance sheet at the time of acquisition contained the following balances:

total assets	$600k	total liab.	$90k
		PS	100k
		CS	150k
		RE	260k
total assets	600k	Toal liab and equities	600k

The preferred shares are cumulative and have a 10 percent annual dividend rate and are four years in arrears on January 1, 2009. All of the $5 par value preferred shares are callable at $6 per share. During 2009, First reported net income of $100,000 and paid no dividends.

5. Based on the preceding information, what is First's contribution to consolidated net income for 2009? A. $80,000 B. $100,000 C. $90,000 D. $50,000

6. Based on the preceding information, what will be the amount of income to be assigned to the noncontrolling interest in the 2009 consolidated income statement? A. $21,000 B. $18,000 C. $23,000 D. $15,000

7. Based on the preceding information, the amount assigned to noncontrolling stockholders' share of preferred stock interest in the preparation of a consolidated balance sheet on January 1, 2009, is: A. $40,000 B. $42,000 C. $36,000 D. $48,000

8. Based on the preceding information, what is the portion of First's retained earnings assignable to its preferred shareholders on January 1, 2009? A. $40,000 B. $50,000 C. $60,000 D. $70,000

9. Based on the information provided, what is the book value of the common stock on January 1, 2009? A. $410,000 B. $360,000 C. $390,000 D. $350,000

10. Based on the information provided, what amount will be reported as the noncontrolling interest in the consolidated balance sheet on January 1, 2009? A. $70,000 B. $130,000 C. $118,000 D. $142,000