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CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT RESOURCES (0) Assume the marketing department has presented a plan to increase advertising expenses by $340 million. It expects this plan to result in an increase in both net sales and cost of goods sold of 25%. (Hint: Increase both sales revenue and sales returns and allowances by 25%.) Redo parts (a) and (b) and discuss whether this plan hasmerit. (Assume a tax rate of 34%, and round all amounts to whole dollars.) Prepare a multiple-step income statement. (Round answers to decimal places, e.. 15,222.) The Clorox Company Income Statement 5-10 per (amounts in millions) esults by Study CALCULATOR FULL SCREEN PRINTERVIE T RESOURCES NI Your answer is correct. 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, 2022 (amounts in millions) 5:09. - Part Pubmission 5-10 (Part Sales m5-02 Sales Revenue 9030 Score Results by Study Less Sales Returns and Allowances 230 Net Sales 8800 Cost of Goods Sold 4400 Gross Profit 4400 Operating Expenses Salaries and Wages Expense 450 Depreciation Expense 90 Type here to search ssignment CALCULATOR FULL SCREEN PRINTER VERSION DepredUUT EX DE CES Advertising Expense 499 Research and Development Expense 114 Rent Expense 105 (Part Utilities Expense 60 F Total Operating Expenses 1328 Study Income From Operations 3072 Expenses and Losses Interest Expense 161 Loss on Disposal of Plant Assets 46 207 Income Before Income Taxes 2865 Income Tax Expense 974 CALCULATOR FULL SCREEN PRIN RESOURCES Income Before Income Taxes 2865 T oises-02 Income Tax Expense 974 5-02 1891 | Net Income /(Loss) SHOW LIST OF ACCOUNTS SHOW ANSWER 5.09. - (Part mission 5-10 (Part bmission 502A LINK TO TEXT core esults by Study Attempts: 1 of 5 used (b) Your answer is correct Calculate the gross profit rate and the profit margin (Round answers to I decimal place, e.g. 15.2%) Gross profit rate 50.0% Profit margin 21.5% signment CALCULATOR FULL SCREEN PRINTER VERSION ES Exercise 5-10 (Part Level Submission) Suppose in its income statement for the year ended June 30, 2022, The Clorox Company reported the following condensed data (dollars in millions). $ 114 974 Salaries and wages expenses Depreciation expense Sales revenue Interest expense Advertising expense Sales returns and allowances $460 Research and development expense 90 Income tax expense 9,030 Loss on disposal of plant assets 161 Cost of goods sold 499 Rent expense 230 Utilities expense 46 4,400 105 60 Assume a tax rate of 34% study Your answer is correct. Prepare a multiple-step income statement. (Round answers to o decimal places, e.g. 15,222.) The Clorox Company Income Statement For the Year Ended June 30, 2022