Using the same case, calculate the independent effects of a 2 percent increase in Gross Margin,...

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Using the same case, calculate the independent effects of a 2 percent increase in Gross Margin, a 2 percent decrease in the Tax Rate, and a 5 percent decrease in Sales. Colossal Chemical Corporation Year Ended December 31, 2021 ($000,000 omitted) Base Case 2% Increase in Gross Margin 2% Decrease in Tax Rate Sales $2,110 $ 6A Cost of goods sold 1,540 Selling, general, and administrative 295 expense Depreciation 160 Research and 55 development Total costs and $2,050 $ expenses Operating Income 60 Interest expense 39 Earnings before $21 $ SA Income Taxes Provision for Income Taxes Net Income 4 $17 $ LA LA LA +A +A +A 5% Decrease in Sales Using the same case, calculate the independent effects of a 2 percent increase in Gross Margin, a 2 percent decrease in the Tax Rate, and a 5 percent decrease in Sales. Colossal Chemical Corporation Year Ended December 31, 2021 ($000,000 omitted) Base Case 2% Increase in Gross Margin 2% Decrease in Tax Rate Sales $2,110 $ 6A Cost of goods sold 1,540 Selling, general, and administrative 295 expense Depreciation 160 Research and 55 development Total costs and $2,050 $ expenses Operating Income 60 Interest expense 39 Earnings before $21 $ SA Income Taxes Provision for Income Taxes Net Income 4 $17 $ LA LA LA +A +A +A 5% Decrease in Sales

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