At the end of 2019, Long Life Light Bulb Corporation announced a gross profit of $1 million. The company has also established that over the course of this year that it has incurred $345,000 in operating expenses and $125,000 in interest expenses. The company is subject to a 21% tax rate, and has declared $57,000 of total preferred stock dividends.

a) calculate the earnings available for common stockholders

b) compute the increased retained earnings for 2019 if the company were to declare a $4.25 common stock dividend. The company has $15,000 shares of common stock outstanding