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Suppose in its income statement for the year ended June 30, 2014, The Clorox Company reported the following condensed data (dollars in millions).
Salaries and wages expenses | | $ 450 | | Research and development expense | | $ 120 |
Depreciation expense | | 90 | | Income tax expense | | 289 |
Sales revenue | | 5,630 | | Loss on disposal of plant assets | | 41 |
Interest expense | | 169 | | Cost of goods sold | | 3,024 |
Advertising expense | | 520 | | Rent expense | | 95 |
Sales returns and allowances | | 230 | | Utilities expense | | 40 |
Prepare a multiple-step income statement. (Round answers to 0 decimal places, e.g. 15,222.)
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