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

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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, 2025 (amounts in millions) Sales Sales Revenue Less Sales Returns and Allowances Net Sales Cost of Goods Sold Gross Profit $ 8196 276 $ 792 = SUPF 396 Operating Expenses Salaries and Wages Expense Depreciation Expense Advertising Expense Research and Development Expense Rent Expense Utilities Expense Total Operating Expenses Income From Operations Other Expenses and Losses 460 90 839 114 105 60 166 SUPPOR 227 Interest Expense 161 Loss on Disposal of Plant Assets 46 46 Income Before Income Taxes Income Tax Expense Net Income/(Loss) A 207 2085 709 1376 (b) Your answer is incorrect. Calculate the gross profit rate and the profit margin. (Round answers to 1 decimal place, e.g. 15.2%.) Gross profit rate Profit margin % % do (c1) Assume the marketing department has presented a plan to increase advertising expenses by $660 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 O decimal places, e.g. 15,222.) The Clorox Company Income Statement (amounts in millions) A SUPPORT +A +A $ SUPPOR > $ = SUPPORT (c2) Your answer is incorrect. Calculate the gross profit rate and the profit margin. (Round answers to 1 decimal place, e.g. 15.2%.) Gross profit rate Profit margin % % 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, 2025 (amounts in millions) Sales Sales Revenue Less Sales Returns and Allowances Net Sales Cost of Goods Sold Gross Profit $ 8196 276 $ 792 = SUPF 396 Operating Expenses Salaries and Wages Expense Depreciation Expense Advertising Expense Research and Development Expense Rent Expense Utilities Expense Total Operating Expenses Income From Operations Other Expenses and Losses 460 90 839 114 105 60 166 SUPPOR 227 Interest Expense 161 Loss on Disposal of Plant Assets 46 46 Income Before Income Taxes Income Tax Expense Net Income/(Loss) A 207 2085 709 1376 (b) Your answer is incorrect. Calculate the gross profit rate and the profit margin. (Round answers to 1 decimal place, e.g. 15.2%.) Gross profit rate Profit margin % % do (c1) Assume the marketing department has presented a plan to increase advertising expenses by $660 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 O decimal places, e.g. 15,222.) The Clorox Company Income Statement (amounts in millions) A SUPPORT +A +A $ SUPPOR > $ = SUPPORT (c2) Your answer is incorrect. Calculate the gross profit rate and the profit margin. (Round answers to 1 decimal place, e.g. 15.2%.) Gross profit rate Profit margin % %

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Detailed Explanation To calculate the gross profit rate and profit margin we need specific financial figures from the income statement Gross Profit Net Sales Net Income From the given data we have ide... View the full answer