$($c$1).$

Assume the marketing department has presented a plan to increase advertising expenses by $$570$ million. It expects this plan to 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 $20\%\%)($Assume a tax rate of $34\%,$ and round all amounts to whole dollars$)$

Prepare a multiple$-$step income statement. Report Net Sales without explicitly showing Sales Revenve and Sales Returns and Allowances individually on the income statement. $($Round answers to o decimal ploces, es$.15,222).$

The Clorox Company

Income Statement $$

$($amountsin millions$)$