(c1) Assume the marketing department has presented a plan to increase advertising expenses by $720 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 Revenue and Sales Returns and Allowances individually on the income statement. (Round answers to 0 decimal places, e.g. 15,222 .)

Current Attempt in Progress Suppose in its income statement for the year ended June 30, 2025, The Clorox Company reported the following condensed data (dollars in millions). Assume a tax rate of 34%. (a) Prepare a multiple-step income statement. (Round answers to 0 decimal places, e.g. 15,222.)