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# Calculate the gross profit rate and the profit margin.(Round answers to 1 decimal place, s. 15.2%)...

## Question

###### Calculate the gross profit rate and the profit margin.(Round answers to 1 decimal place, s. 15.2%)...

Calculate the gross profit rate and the profit margin.(Round answers to 1 decimal place, s. 15.2%) Gross profit rate Profit margin
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 498 Sales revenue 46 6,230 Loss on disposal of plant assets 161 Cost of goods sold Interest expense 3,000 Advertising expense 499 Rent expense Sales returns and allowances 230 Utilities expense Assume a tax rate of 34%. fal
Net Sales Cost of Goods Sold 3000 1 Gross Proht 3000 Operating Expenses Salaries and Wages Expense 460 i Depreciation Expense 90 i Advertising Expense 499 i Research and Development Expense 114 i Rent Expense 105 i Utilities Expense 60 i Total Operating Expenses Income From Operations Other Expenses and Losses
Loss on Disposal of Plant Assets 46 i Interest Expense 161 i 207 i Income Before Income Taxes 1465 Income Tax Expense 498 Net Income /(Loss)

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