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 532, Sales revenue 6,430, Loss on disposal of plant assets 46, Interest expense 161, Cost of goods sold 3,100, Advertising expense 499, Rent expense 105, Sales returns and allowances 230, Utilities expense 60. Assume a tax rate of 34%. A) Prepare a multi-step income statement. B) Calculate the gross profit rate and the profit margin. C) Assume the marketing department has presented a plan to increase advertising expenses by $406 million. It expects this plan to result in an increase in both net sales and cost of goods sold of 25%. Prepare a multiple-step income statement. D) Calculate the gross profit rate and the profit margin.

Swathmore clothing corporation grants its customers 30 days' credit. the company uses the allowance method for its uncollectible accounts receivable. during the year, a monthly bad debt accrual is made by multiplying 3% times the amount of credit sales for the month. at the fiscal year-end of december 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly. at the end of 2012, accounts receivable were dollar 586.000 and the allowance account had a credit balance of dollar 50,000. accounts receivable activity for 2013 was as follows: the company's controller prepared the following aging summary of year-end accounts receivable: prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year. (if no entry is required for a particular event, select "no journal entry required" in the first account field.) prepare the necessary year-end adjusting entry for bad debt expense. (if no entry is required for an event, select "no journal entry required" in the first account field.) what is total bad debt expense for 2013? calculate the amount of accounts receivable that would appear in the 2013 balance sheet?