ASAP PLZ

Suppose in its income statement for the year ended June 30, 2022, The Clorox Company reported the following condensed data (dollars in millions). Salaries and wages expenses $ 460 Research and development expense $ 114 Depreciation expense 90 Income tax expense 566 Sales revenue 6,630 46 Loss on disposal of plant assets Cost of goods sold Interest expense 161 3,200 Advertising expense 499 Rent expense 105 230 Sales returns and allowances Utilities expense 60 (b) Calculate the gross profit rate and the profit margin. (Round answers to 1 decimal place, es. 15.2%) Gross profit rate % % Profit margin (c1) 1.07/5 Assume the marketing department has presented a plan to increase advertising expenses by $340 million. It expects this planto result in an increase in both net sales and cost of goods sold of 20%. (Hint: Increase both sales revenue and sales returns and allowances by 20%.) Redo parts (a) and (b) and discuss whether this plan has merit. (Assume a tax rate of 34%, and round all amounts to whole dollars.) Prepare a multiple-step income statement. (Round answers to O decimal places, 6.3. 15,222.) The Clorox Company Income Statement (amounts in millions) 1.07/5 INI $ (c2) Calculate the gross profit rate and the profit margin. (Round answers to 1 decimal place, es. 15.2%) Gross profit rate % Profit margin % 1.07/5 Your answer is partially correct Prepare a multiple-step income statement. (Round answers to decimal places, s. 15.222) The Clorox Company Income Statement For the Year Ended June 30, 2022 (amounts in milliona) Sales Sales Revenue 6630 Less Sales Returns and Allowances 230 1 Net Sales Cost of Goods Sold 20 1.07/5 Gross Profit E Operating Expenses Salaries and Wages Expense 4601 Depreciation Expense 904 Advertising Expense 499 Research and Development Expense 1141 Rent Expense 105 0 1 Utilities Expense Total Operating Expenses 1373 Income From Operations Other Expenses and Losses 5 1.07/5 Interest Expense 161 1 Loss on Disposal of Plant Assets 46 i Income Before Income Taxes 11 Income Tax Expense mon. Net Income /(Loss) 769