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 experte Sales revenue Interest expense Advertising experte Sales returns and allowances $ 460 Research and development expense 90 Income tax expense 5.730 Loss on disposal of plant assets 161 Cost of goods sold 499 Rent pense 200 Utilities expense $114 276 46 3.104 105 60 Assume tax rate of 34% Prepare a multiple step income statement. (Round answers to decimal places, s 15222) The Clorox Company Income Statement (amounts in millions) C Calculate the gross profit rate and the profit margin (Round answers to 1 decimal places 15.2%) Gross profit rate Profit margin % e Textbook and Media List of Accounts Assume the marketing department has presented a plan to increase advertising expenses by 5340 million. It expects this planto 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%) Rudo parts (x) 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, es 15.222.) The Clorox Company Income Statement (amounts in millions) > e Textbook and Media List of Accounts Calculate the gross profit rate and the pront margin (Round answers to 1 decimal place, s. 15.2%) Gross profit rate Proht margin