At the end of 2019,Long Life Light Bulb Corporation announced a gross profit of $1 million.The company has also established that over the course of this year that it has incurred $345,000 in operating expenses and $125,000 in interest expenses.The company is subject to a 21% tax rate and has declared $57,000 of total preferred stock dividends.
(a)Calculate the earnings available for common stockholders?
(b)Compute the increased retained earnings for 2019 if the company were to declare a $4.25 common stock dividend.The company has 15,000 shares of common stock outstanding.

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The Answer of At the end of 2019,Long Life Light Bulb Corporation announced a gross profit of $1 million.The company has also established that over the course of this year that it has incurred $345,000 in operating expenses and $125,000 in interest expenses.The company is subject to a 21% tax rate and has declared $57,000 of total preferred stock dividends.
(a)Calculate the earnings available for common stockholders?
(b)Compute the increased retained earnings for 2019 if the company were to declare a $4.25 common stock dividend.The company has 15,000 shares of common stock outstanding.

At the End of 2019,Long Life Light Bulb Corporation Announced