For the base case in this section, as a percentage of sales, COGS = 69 percent, SGA = 14 percent, R&D = 2.5 percent. Depreciation. Interest expense are fixed as stated. Tax Rate is 20 percent. 1.a Given the following case, calculate the independent effects of a 1 percent increase in Gross Margin, a 1 percent decrease in the TaxRate, and a 5 percent increase in Sales. Colossal Chemical Corporation Year Ended December 31, 2021 ($000,000 omitted) Base Case 1% Increase in Gross Margin 1% Decrease in Tax Rate 5% Increase in Sales Sales Colossal Chemical Corporation Year Ended December 31, 2021 ($000,000 omitted) Base Case 1% Increase in Gross Margin 1% Decrease in Tax Rate 5% Increase in: $ $ $ 19 $ 2,110 Cost of goods sold 1,456 Selling, general, and 295 administrative expense Depreciation 160 Research and development 53 $ Total costs and expenses 1,964 Operating Income 146 Interest expense 39 69 Earnings before Income Taxes $107 $ Provision for Income Taxes 21 Net Income $ $ 69 $ $ 14 $86 $ $ $