Business, 18.02.2020 23:06 paigesyring

Interest versus dividend expense Michaels Corporation expects earnings before interest and taxes to be $ 48 comma 000 for the current period. Assuming a flat ordinary tax rate of 24 %, 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 comma 100 in interest. b. The firm pays $ 12 comma 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.)

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