Business
Business, 13.03.2020 05:56, brittanysanders

Suppose in its income statement for the year ended June 30, 2022, The Clorox Company reported the following condensed data (dollars in millions).

Salaries and wages expenses $ 460
Research and development expense $ 114
Depreciation expense 90
Income tax expense 736
Sales revenue 7,630
Loss on disposal of plant assets 46
Interest expense 161
Cost of goods sold 3,700
Advertising expense 499
Rent expense 105
Sales returns and allowances 230
Utilities expense 60

Assume a tax rate of 34%.
Required:
Prepare a multiple-step income statement. (Round answers to 0 decimal places, e. g. 15,222.)

answer
Answers: 1

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Suppose in its income statement for the year ended June 30, 2022, The Clorox Company reported the fo...

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