Suppose in its income statement for the year ended June $30,2025,$ The Clorox Company reported the following condensed data

$($dollars in millions$).$

Assume a tax rate of $34\%.$

$($a$)$

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 $30,2025$

$($amounts in millions$)$

jales

$\_$ess $vv$: Sales Returns and Allowances

$

ISt

perating Expenses Advertising Expense

Salaries and Wages Expense

Research and Development Expense

$$

Rent Expense

$|$

Depreciation Expense

$$otal Operating Expenses

come From Operations

ther Expenses and Losses

nterest Expense

$.$oss on Disposal of Plant Assets

come Before Income Taxes

some Tax Expense

et Income $/($Loss$)$

eTextbook and Media

List of Accounts Assume the marketing department has presented a plan to increase advertising expenses by $$420$ million. It expects this plan to

result in an increase in both net sales and cost of goods sold of $20\%.($Hint: Increase both sales revenue and sales returns and

allowances by $20\%.)($Assume a tax rate of $34\%,$ and round all amounts to whole dollars.$)$

Prepare a multiple$-$step income statement. Report Net Sales without explicitly showing Sales Revenue and Sales Returns and

Allowances individually on the income statement. $($Round answers to O decimal places, e$.$g$.15,222.)$

The Clorox Company

Income Statement

For the Year Ended June $30,2025$

$($amounts in millions$)$

Sales Returns and Allowances

$

$($c$2)$

Calculate the gross profit rate and the profit margin. $($Round answers to $1$ decimal place, e$.$g$.15\mathrm{.}2\%.)$

Gross profit rate

$\%$

Profit margin

$\%$