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CM Slaun For the Year Ended June 30, 2022 (amounts in millions) Sales Sales Revenue 7,030 290 i Sales Returns and Allowances Neties 3 Cost of Goods Sold Grow Profit Operating Expenses 460 1 Solaries and Wages per 90 Depreciation Expenses 499 Advertising Expen 1 Rearch and Development Expense 103 661 Utheon Total Operating serve Incer Operations (amounts in millions) 7,030 evenue 230 i Sales Returns and Allowances 6800 3.4001 Soods Sold 3400 rofit nig Expenses 460 sand Wages Expense 90 clation Expense 499 tising Expens 114 ch and Development Expense 305 penys 60 Expense 1328 Operating Expenses 2072 Operations 114 Search and Development Expense 105 int Expense 60 1328 ilities Expense 2072 tal Operating Expenses ome From Operations ser Expenses and Losses 46 sson Disposal of Plant Assets 161 207 terest Expense 1865 634 30 Before Income Taxes 1231 ime Tax Expense Income/(Loss) hook and Media Your answer is correct. Calculate the gross profit rate and the profit margin. (Round answers to 1. decimal place, e.g. 15.2%) Gross profit rate 50 % Profit margin 18.1 % Assume the marketing department has presented a plan to increase advertising expenses by $340 milion. It expects this plan to result in an increase in both net sales and cost of goods sold of 20% (Mint Increase both sales revence and sales returns and allowances by 20%) Redo parts (a) and (b) and discuss whether this plan has mert (Assume a tax rate of 34%, and round all amounts to whole dollars: Prepare a multiple step income statement. Round answers to decimal places. 15,222. The Cleron Company Income Statement (amounts in millions) $