m.ec III mework: HW #1 - Chapter 1 Question 5, P1-10 (simila.... Part 102 HW Score: 50.62%, 11.92 of 20 points Score: 0 of 4 Save ding Demo Acce Interest versus dividend expense Michaels Corporation expects earnings before interest and taxes to be 544000 for the current period Assuming a flat ordinary tax rate of 40% computer the firm's earnings after taxes and earnings available for common stockholders feating after takes and proferred stock dividends under the following conditions a. The firm pays $12.400 in interest b. The firm pays 512 400 in proforlod stock dividends a. Complete the fragment of Michaels Corporation's income statement below to come the fiscamings after ones and arts for common stockholders under condition (a) Round to the nearest dollar) $ $ EBIT Loss interest expense Earnings before taxes Loss Taxes (40%) Earnings after takes Less Profond dividends Es lavable for common stockholders 5 S