Assume the marketing department has presented a plan to increase advertising expenses by $750 million. It...

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Assume the marketing department has presented a plan to increase advertising expenses by $750 million. It expects this plan to result in an increase in both net sales and cost of goods sold of 20%. (Hint: Increase both sales revenue and sales returns and allowances by 20%.) (Assume a tax rate of 34%, and round all amounts to whole dollars.) Prepare a multiple-step income statement. Report Net Sales without explicitly showing Sales Revenue and Sales Returns and Allowances individually on the income statement. (Round answers to 0 decimal places, e.g. 15,222.) The Clorox Company Income Statement (amounts in millions) SA $ S $ Assume the marketing department has presented a plan to increase advertising expenses by $750 million. It expects this plan to result in an increase in both net sales and cost of goods sold of 20%. (Hint: Increase both sales revenue and sales returns and allowances by 20%.) (Assume a tax rate of 34%, and round all amounts to whole dollars.) Prepare a multiple-step income statement. Report Net Sales without explicitly showing Sales Revenue and Sales Returns and Allowances individually on the income statement. (Round answers to 0 decimal places, e.g. 15,222.) The Clorox Company Income Statement (amounts in millions) SA $ S $