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Michaels Corporation expects earnings before interest and taxes to be $44,000 for the current period....

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Finance

Michaels Corporation expects earnings before interest and taxes to be $44,000 for the current period. Assuming a flat ordinary tax rate of 23%, compute the firm's earnings after taxes and earnings available for common stockholders (earnings after taxes and preferred stock dividends, if any) under the following conditions:

a. The firm pays $ 11 comma 900$11,900 in interest.

b. The firm pays $ 11 comma 900$11,900 in preferred stock dividends.

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