Suppose in its income statement for the year ended June 30, 2022. The Clorox Company reported the following condensed data (dollars in millions). $460 90 7,830 Salaries and wages expenses Depreciation expense Sales revenue Interest expense Advertising expense Sales returns and allowances Research and development expense $114 Income tax expense 770 Loss on disposal of plant assets 46 Cost of goods sold 3,800 Rent expense 105 Utilities expense 161 499 230 60 Assume a tax rate of 34%. 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 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, e.g. 15,222.) The Clorox Company Income Statement (amounts in millions) $