Question: At the end 2005, the Long Life Light Bulb Company announced had produced a gross profit of $1 million. The company has also established that over the course of this year it has incurred $345,000 in operating expenses and $125,000 interest expenses. The company is subject to a 30 percent tax rate and has declared $57,000 total preferred stock dividends.
a) How much is the earnings available for common stockholders?