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Interest versus dividend expense Michaels Corporation expects earnings before interest and taxes to be $46,000...

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Interest versus dividend expense Michaels Corporation expects earnings before interest and taxes to be $46,000 for the current period. Assuming a flat ordinat tax rate of 35%, compute the firm's earnings after taxes and eamings available for common stockholders (earnings after taxes and preferred stock dividends, if any under the following conditions: a. The firm pays $12,100 in interest b. The firm pays $12,100 in preferred stock dividends. a. Complete the fragment of Michaels Corporation's income statement below to compute the firm's earnings atler taxos and earnings availabie for common stockholders under condition (a). (Round to the nearest dollar.)

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