For the base case in this section, as a percentage of sales, COGS = 72 percent, SGA = 15 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 Sal $ ales $ 2110 $ 2110 $ 2215.5 2,110 Cost of goods sold 1,519 1519 1594.9 Selling, general, and 317 317 317 333 administrative expense Depreciation 160 160 160 160 Research and development 53 $ Total costs and expenses $ $ 2.049 Operating Income 61 Interest expense 39 39 39 39 arnings before Income Taxes $ 22 $ $ 'rovision for Income Taxes 4 let Income $ 18 $ $