Interest versus dividend expense Michaels Corporation expects earnings before interest and taxes to be 544 000 for the current penod Assuring a fat ordinary tax rate of 40% compute the firm's earnings attor taxes and earnings available for common stockholders earnings after times and preferred stock didends, under the following conditions a. The firm pays $12.400 in interest b. The firm pays $12,400 in preferred stock dividends a. Complete the fragment of Michaels Corporation's income statement below to compute the firm's earnings after taxes and earrings available for common stockholders under condition (a) (Round to the nearest dollar) $ EBIT Less Interest exponse Earnings before taxes Less Taxes (40%) Earnings after taxes Loss Preferred dividends Earnings available for common stockholders $