considering this information, Given Information:

Net Sales: $$2,475,000($calculated as Sales Revenue minus Sales Returns and Allowances$)$

Cost of Goods Sold: $$1,683,000$

Gross Profit: $$792,000($calculated as Net Sales minus Cost of Goods Sold$)$

Net Income: $$123,750$

solve for this: The vice president of marketing and the director of human resources have developed a proposal whereby the company would compensate the sales force on a strictly commission basis. Given the increased incentive, they expect net sales to increase by $16\%.$ As a result, they estimate that gross profit will increase by $122,760$ and expenses by $164,340.$ Compute the new expected income, then compute the revised profit margin and gross profit rate.