Could help to solve this problem? Step by step instructions would be helpful.

For the base case in this section, as a percentage of sales, COGS = 70 percent, SGA = 14 percent, R&D = 2.8 percent. Depreciation, Interest expense are fixed as stated. Tax Rate is 21 percent.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 5% Decrease in Sales Sales $ 2,110 $ Cost of goods sold 1,477 Selling, general, and administrative 295 expense Depreciation 160 Research and 59 development Total costs and $ 1,991 $ expenses Operating Income 119 Interest expense 39 Earnings before $80 Income Taxes Provision for Income 17 Taxes\f