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		$ 470		Research and development expense		$ 130
Depreciation expense		85		Income tax expense		291
Sales revenue		5,505		Loss on disposal of plant assets		50
Interest expense		150		Cost of goods sold		2,915
Advertising expense		455		Rent expense		120
Sales returns and allowances		205		Utilities expense		70

Assume a tax rate of 34%.

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

*Exercise 5-9 (Part Level Submission) Suppose in its income staternent for the year ended June 30, 2017, The Clorox Company reported the following condensed data (dollars in millions). $ 130 291 50 Salaries and wages expenses Depreciation expense Sales revenue Interest expense Advertising expense Sales returns and allowances $ 470 Research and development expense 85 Income tax expense 5,505 Loss on disposal of plant assets 150 Cost of goods sold 455 Rent expense 205 Utilities expense 2,915 120 70 Assume a tax rate of 34%. *(a) Prepare a multiple-step income statement. (Round answers to O decimal places, e.g. 15,222.) THE CLOROX COMPANY Income Statement (amounts in millions)