Interest versus dividend expense Michaels Corporation expects earnings before interest and taxes to be $$43,000$ for the current period. Assuming a flat ordinary tax rate of $21\%,$ compute the firm's earnings after taxes and earnings available for common stockholders $($earnings after taxes and preferred stock dividends, if any$)$ under the following conditions: a$.$ The firm pays $$12,100$ in interest. b$.$ The firm pays $$12,100$ in preferred stock dividends. a$.$ 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 $($a$).($Round to the nearest dollar.$)$ EBIT Less: Interest expense Earnings before taxes Less: Taxes $(21\%)$ Earnings after taxes Less: Preferred dividends Earnings available for common stockholders