Current Attempt in Progress Using the base case, calculate the composite effects of a 5 percent increase in Sales, a 2 percent decrease in Gross Margin, and a 5 percent increase is SG&A as percent of Sales. Colossal Chemical Corporation Year Ended December 31, 2021 ($000,000 omitted) Sales Base Case $2,110 $ Cost of goods sold 1,308 Selling, general, and 380 administrative expense Depreciation 121 Research and development 114 Total costs and expenses $1,923 $ Operating Income 187 Interest expense 34 Earnings before Income Taxes $ 153 $ Provision for Income Taxes 32 Net Income $ 121 $ Combined For the base case in this question, as a percentage of sales, COGS = 62 percent, SGA = 18 percent, R&D = 5.4 percent. Depreciation, Interest expense are fixed as stated. Tax Rate is 21 percent.