Interest versus dividend expense Michaels Corporation expects earnings before interest and taxes to be $47,000 for the current period. Assuming a flat ordinar lax rate of 35%, compute the firm's eamings 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 $12,000 in interest. b. The firm payt $12,000 in preferred stock dividonds. a. Complete the fragment of Mchaeis Corporation's income statement below to compute the firm's earnings affer taxes and earnings available for corninon stockholders under condition (a) (Round to the nearest dollar.)