Suppose in its income statement for the year ended June 30, 2022. The Clorox Company reported the following condensed data (dollars in millions). Salaries and wages expenses Depreciation expense Sales revenue Interest expense Advertising expense Sales returns and allowances $460 90 9,430 161 499 230 Research and development expense Income tax expense Loss on disposal of plant assets Cost of goods sold Rent expense Utilities expense $ 114 1,042 46 4,600 105 60 Assume a tax rate of 34%. (c1) 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 has merit. (Assume a tax rate of 34%, and round all amounts to whole dollars.) Prepare a multiple-step income statement. (Round answers to decimal places, es. 15,222.) The Clorox Company Income Statement (amounts in millions)