Suppose in its income statement for the year ended June 30, 2017, The Clorox Company reported the following condensed data (dollars in millions).

Salaries and wages expenses		$ 430		Research and development expense		$ 115
Depreciation expense		90		Income tax expense		198
Sales revenue		6,265		Loss on disposal of plant assets		45
Interest expense		531		Cost of goods sold		3,660
Advertising expense		445		Rent expense		95
Sales returns and allowances		265		Utilities expense		55

(a)

Prepare a multiple-step income statement.

THE CLOROX COMPANY Income Statement (amounts in millions) 12:41 AM lyoe here to search O FI N 19C Mostly cloudy. a 4: ENG 2021-06-16