Suppose in its income statement for the year ended June 30, 2022. The Clorox Company reported the following condensed data (dollars in millions) $460 Research and development expense Salaries and wages expenses Depreciation expense S114 276 90 income tax expense Sales revenue Interest expense 5.730 Loss on disposal of plant assets 161 Cost of goods sold 499 Rent expense Advertising expense Sales returns and allowances 280 Utilities expense Assume atax rate of 34% Your answer is partially correct Prepare a multiple-step income statement. (Round answers to decimal placesey 15.222.) The Clorox Company Income Statement For the Year Ended June 30,2022 (amounts in millions) Sales Reven 5730 Less : Sales Returns and Allowances Net Sales Cont of Good Sold Gross Profit Salaries and Wages Expense 460 Depreciation Expense Research and Development Expense Advertising Expense 499 Rent Expense 105 Utilities Expense Total Operating Expenses 1355 Income From Operations 1749 Other Expenses and Losses Interest Expense Loss on Disposal of Plant Assets Income Before Income Taxes Income Tax Expense Net Income /(Loss) Calculate the gross profit rate and the profit margin. (Round answers to 1 decimal place, es 15.2%) Gross profit rate Proht margin e Textbook and Media List of Accounts - Your answer is partially correct. Assume the marketing department has presented a plan to increase advertising expenses by 5340 million, it expects this plan to result in an increase in both net sales and cos allowances by 25% Rede parts and Col and discuss whether this planhas merit. Assume a tax rate of 34% and round all amounts to whole dollars) Prepare a multiple step income statement. (Round answers to decimal places es. 15222.) The Clorox Company Income Statement For the Year Ended June 30, 2022 (amounts in millions) Cost of Goods Sold Gross Pro Operating Salaries and Wages Expense Research and Development Expense