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Exercise 5-9 Suppose in its income statement for the year ended June 30, 2014 The Clorox Company reported the following condensed data (dollars in millions) Research Salaries and and 460 114 wages development expenses expense Depreciation Income tax 276 90 expense expense Loss on Sales 5,730 disposal of 46 revenue plant assets 161 Cost of Interest 3,104 goods sold expense Advertising Rent 499 105 expense expense Sales Utilities returns and 280 60 expense allowances Assume a tax rate of 34% Prepare a multiple-step income statement. (Round answers to o decimal places, e.g. 15,222.) THE CLOROX COMPANY Income Statement For the Year Ended June 30, 2014 (amounts in millions) Calculate the gross profit rate and the profit margin. (Round answers to 1 decimal place, e.g. 15.2%.)