Suppose in its income statement for the year ended June 30, 2014, The Clorox Company reported the following condensed data (dollars in millions).

Salaries and wages expenses		$ 460		Research and development expense		$ 101
Depreciation expense		70		Income tax expense		272
Sales revenue		5,790		Loss on disposal of plant assets		41
Interest expense		163		Cost of goods sold		3,275
Advertising expense		480		Rent expense		120
Sales returns and allowances		240		Utilities expense		40

Assume a tax rate of 34%.

****Assume the marketing department has presented a plan to increase advertising expenses by $245 million. It expects this plan to result in an increase in both net sales and cost of goods sold of 25%. Prepare a multiple-step income statement.