This will Helpfull.Easy to implement,100% tested.
for(int i=1;i<linecount;i++)
{
progressBar1.Value = i * progressBar1.Maximum / linecount; //show process bar counts
LabelTotal.Text = i.ToString() + " of " + linecount; //show number of count in lable
int presentage = (i * 100) / linecount;
LabelPresentage.Text = presentage.ToString() + " %"; //show precentage in lable
Application.DoEvents(); keep form active in every loop
}