Suppose in its income statement for the year ended June 30, 2025, The Clorox Company reported the following condensed data (dollars in millions).
Salaries and wages expenses
$ 450
Research and development expense
$ 90
Depreciation expense
90
Income tax expense
297
Sales revenue
5,130
Loss on disposal of plant assets
45
Interest expense
180
Cost of goods sold
2,565
Advertising expense
450
Rent expense
90
Sales returns and allowances
251
Utilities expense
45
Assume a tax rate of 34%.
(a)
Your answer is partially correct.
Prepare a multiple-step income statement. (Round answers to 0 decimal places, e.g. 15,222.)
The Clorox Company
Income Statement
choose the accounting period
For the Year Ended June 30, 2025
Correct answer
(amounts in millions)
select an opening name for section one
Sales
enter an income statement item
Sales Revenue
Correct answer
$enter a dollar amount
select between addition and deduction
Less
Correct answer: enter an income statement item
Sales Returns and Allowances
Correct answer
enter a dollar amount
select a closing name for section one
Net Sales
Correct answer
$enter a total amount for section one
4,879 million
Incorrect answer
enter an income statement item
Cost of Goods Sold
Correct answer
enter a dollar amount
2,,565 million
Incorrect answer
select a summarizing line for the first part
Incorrect answer
enter a total amount for the first part
Incorrect answer
select an opening name for section two
Incorrect answer
enter an income statement item
Incorrect answer
enter a dollar amount
Incorrect answer
enter an income statement item
Incorrect answer
enter a dollar amount
Incorrect answer
enter an income statement item
Incorrect answer
enter a dollar amount
Incorrect answer
enter an income statement item
Incorrect answer
enter a dollar amount
Incorrect answer
enter an income statement item
Incorrect answer
enter a dollar amount
Incorrect answer
enter an income statement item
Incorrect answer
enter a dollar amount
Incorrect answer
select a closing name for section two
Incorrect answer
enter a total amount for section two
Incorrect answer
select a summarizing line for the second part
Incorrect answer
enter a total amount for the second part
Incorrect answer
select an opening name for section three
Incorrect answer
enter an income statement item
Incorrect answer
enter a dollar amount
Incorrect answer
enter an income statement item
Incorrect answer
enter a dollar amount
Incorrect answer
enter a subtotal of the two previous amounts
Incorrect answer
select a summarizing line for the third part
Incorrect answer
enter a total amount for all three parts
Incorrect answer
enter an income statement item
Incorrect answer
enter a dollar amount
Incorrect answer
select a closing name for this statement
Incorrect answer
$enter a total net income or loss amount
Incorrect answer
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(b)
(c1)
(c2)
