Interest versus dividend expense Michaels Corporation expects earnings before interest and taxes to be $52,000 for this period. Assuming an ordinary tax rate of 35%, 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: The firm pays $ 11,600 in interest. The firm pays $ 11,600 in preferred stock dividends. Complete the fragment of Michaels Corporation's income statement below to compute the firm's earnings after taxes and earnings available for common stockholders under condition