Suppose in its income statement for the year ended June 30, 2022, The Clorox Company reported the following condensed data (dollars in millions) Salaries and wages expenses $ 460 Research and development expense $ 114 Depreciation expense 90 Income tax expense 974 Sales revenue 9,030 Loss on disposal of plant assets 46 Interest expense 161 Cost of goods sold 4,400 Advertising expense 499 Rent expense 105 Sales returns and allowances 230 Utilities expense 60 Assume a tax rate of 34 (a) Prepare a multiple step income statement (Round answers to 0 decimal places, e g 15,222 ) The Clorox Company Income Statement choose the accounting period June 30, 2022For the Month Ended June 30, 2022For the Year Ended June 30, 2022 (amounts in millions) select an opening name for section one DividendsNet Income (Loss)Retained Earnings, July 1, 2008Retained Earnings, June 30, 2009SalesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From Operations enter an income statement item $enter a dollar amount select between addition and deduction Less Add enter an income statement item enter a dollar amount select a closing name for section one DividendsNet Income (Loss)Retained Earnings, July 1, 2008Retained Earnings, June 30, 2009SalesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From Operations $enter a total amount for section one enter an income statement item enter a dollar amount select a summarizing line for the first part DividendsNet Income (Loss)Retained Earnings, July 1, 2008Retained Earnings, June 30, 2009Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsSales enter a total amount for the first part select an opening name for section two DividendsNet Income (Loss)Retained Earnings, July 1, 2008Retained Earnings, June 30, 2009Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsSales enter an income statement item enter a dollar amount enter an income statement item enter a dollar amount enter an income statement item enter a dollar amount enter an income statement item enter a dollar amount enter an income statement item enter a dollar amount enter an income statement item enter a dollar amount enter a closing name for section two Dividends Net Income (Loss) Retained Earnings, July 1, 2008 Retained Earnings, June 30, 2009 Sales Revenues Total Revenues Net Sales Gross Profit Operating Expenses Total Operating Expenses Income Before Income Taxes Other Revenues and Gains Other Expenses and Losses Income From Operations Sales enter a total amount for section two select a summarizing line for the second part DividendsNet Income (Loss)Retained Earnings, July 1, 2008Retained Earnings, June 30, 2009Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsSales enter a total amount for the second part select an opening name for section three DividendsNet Income (Loss)Retained Earnings, July 1, 2008Retained Earnings, June 30, 2009Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsSales enter an income statement item enter a dollar amount enter an income statement item enter a dollar amount enter a subtotal of the two previous amounts select a summarizing line for the third part DividendsNet Income (Loss)Retained Earnings, July 1, 2008Retained Earnings, June 30, 2009Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsSales enter a total amount for all three parts enter an income statement item enter a dollar amount select a closing name for this statement DividendsNet Income (Loss)Retained Earnings, July 1, 2008Retained Earnings, June 30, 2009Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsSales $

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Suppose in its income statement for the year ended June 30, 2022, The Clorox Company reported the following condensed data (dollars in millions). Salaries and

Suppose in its income statement for the year ended June 30, 2022, The Clorox Company reported the following condensed data (dollars in millions).

Salaries and wages expenses	$ 460	Research and development expense	$ 114
Depreciation expense	90	Income tax expense	974
Sales revenue	9,030	Loss on disposal of plant assets	46
Interest expense	161	Cost of goods sold	4,400
Advertising expense	499	Rent expense	105
Sales returns and allowances	230	Utilities expense	60

Assume a tax rate of 34%.

(a)

Prepare a multiple-step income statement. (Round answers to 0 decimal places, e.g. 15,222.)

The Clorox Company Income Statement choose the accounting period June 30, 2022For the Month Ended June 30, 2022For the Year Ended June 30, 2022 (amounts in millions)
select an opening name for section one DividendsNet Income / (Loss)Retained Earnings, July 1, 2008Retained Earnings, June 30, 2009SalesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From Operations
enter an income statement item	$enter a dollar amount
select between addition and deduction Less Add : enter an income statement item	enter a dollar amount
select a closing name for section one DividendsNet Income / (Loss)Retained Earnings, July 1, 2008Retained Earnings, June 30, 2009SalesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From Operations		$enter a total amount for section one
enter an income statement item		enter a dollar amount
select a summarizing line for the first part DividendsNet Income / (Loss)Retained Earnings, July 1, 2008Retained Earnings, June 30, 2009Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsSales		enter a total amount for the first part
select an opening name for section two DividendsNet Income / (Loss)Retained Earnings, July 1, 2008Retained Earnings, June 30, 2009Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsSales
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
enter a closing name for section two Dividends Net Income / (Loss) Retained Earnings, July 1, 2008 Retained Earnings, June 30, 2009 Sales Revenues Total Revenues Net Sales Gross Profit Operating Expenses Total Operating Expenses Income Before Income Taxes Other Revenues and Gains Other Expenses and Losses Income From Operations Sales		enter a total amount for section two
select a summarizing line for the second part DividendsNet Income / (Loss)Retained Earnings, July 1, 2008Retained Earnings, June 30, 2009Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsSales		enter a total amount for the second part
select an opening name for section three DividendsNet Income / (Loss)Retained Earnings, July 1, 2008Retained Earnings, June 30, 2009Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsSales
enter an income statement item	enter a dollar amount
enter an income statement item	enter a dollar amount
		enter a subtotal of the two previous amounts
select a summarizing line for the third part DividendsNet Income / (Loss)Retained Earnings, July 1, 2008Retained Earnings, June 30, 2009Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsSales		enter a total amount for all three parts
enter an income statement item		enter a dollar amount
select a closing name for this statement DividendsNet Income / (Loss)Retained Earnings, July 1, 2008Retained Earnings, June 30, 2009Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From OperationsSales		$