Exercise 5-9 (Part Level Submission) Suppose in its income statement for the yea

Question

Exercise 5-9 (Part Level Submission) Suppose in its income statement for the year ended June 30, 2017, The Clorox Company reporter CALCULATOR PRINTER VERSION1 BACK NEXT Exercise 5-9 (Part Level Submission) e statement for the year ended June 30, 2017, The Clorox Company reported the following condensed data (dollars in millions), Salaries and wages expenses 480 Research and development expense $115 Depreciation expense Sales revenue interest expense Advertising expense 80 5,685 160 530 Income tax expense Loss on disposal of plant assets Cost of goods sold Rent expense 216 45 3,270 95 40 Sales returns and allowances 235 Utlites expense 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 ^ 9/14/2018 DELL

Explanation / Answer

THE CLOROX COMPANY Income statement Sales Revenue 5685 Less:- sales return and allowances 235 Less:-Cost of goods sold 3270 Gross Profit 2180 Operating expenses Selling expenses Advertising expenses 530 530 Administrative expense Salaries and wages exp 480 Depreciation expenses 80 Interest expenses 160 Research and development exp 115 Income tax expenses 216 loss on disposal of assets 45 rent expenses 95 utilities exp 40 1231 Total Operating expenses 1761 Net income 419

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