Suppose in its income statement for the year ended June 30, 2025, The Clorox Company reported the following condensed data (dollars in millions). Salaries and wages expenses $700 Research and development expense $140 Depreciation expense 140 Income tax expense 459 Sales revenue 7.980 Loss on disposal of plant assets 70 Interest expense 280 Cost of goods sold 3,990 Advertising expense 700 Rent expense 140 Sales returns and allowances 399 Utilities expense 20 70 Assume a tax rate of 34%. Prepare a multiple-step income statement. (Round answers to O decimal places, e.g. 15,222.) Question 2 of 6 Sales Sales Revenue Less Sales Returns and Allowances Net Sales Cost of Goods Sold Gross Profit Operating Expenses Salaries and Wages Expense Depreciation Expense Research and Development Expense Advertising Expense Rent Expense Utilities Expense Total Operating Expenses Income From Operations Other Expenses and Losses For the Year Ended June 30, 2025 (amounts in millions) 7980 399 700 140 i 140 700 i 140 70 i 1.16/5 III 7 399 185 SU Question 2 of 6 Total Operating Expenses Income From Operations Other Expenses and Losses (b) Interest Expense 280 Loss on Disposal of Plant Assets 70 i Income Before Income Taxes Income Tax Expense Net Income/(Loss) eTextbook and Media List of Accounts Save for Later (c1) 1.16/5 III 189 35 45 Attempts: 4 of 15 used Submit Answer SUPPOR