Calculate the gross profit rate and the profit margin. (Round answers to 1 decimal place, e.g. 15.2\%.) Gross profit rate % Profit margin % eTextbook and Media 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%. Assume the marketing department has presented a plan to increase advertising expenses by $840 million. It expects this plan t 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.) Calculate the gross profit rate and the profit margin. (Round answers to 1 decimal place, e.g. 15.2% ) Gross profit rate % Profit margin % (a) Prepare a multiple-step income statement. (Round answers to 0 decimal places, e.g. 15,222.) The Clorox Company Income Statement For the Year Ended June 30, 2025 (amounts in millions) $ $