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 566
Sales revenue 6,630 Loss on disposal of plant assets 46
Interest expense 161 Cost of goods sold 3,200
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.

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The profit for holiday month is 900

Answerdecrease the effective price of coffee received by ///and decrease the equilibrium quantity of coffee;

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