For the base case in this section, as a percentage of sales, COGS = 70 percent, SGA = 14 percent, R&D = 3.0 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 Sale: Sales $ $ $ 2,110 Cost of goods sold 1,477 Selling, general, and 295 administrative expense Depreciation 160 Research and development 63 Total costs and expenses $ 1,995 Operating Income 115 Interest expense 39 Earnings before Income Taxes $ 76 Provision for Income Taxes 15 Net Income $ 61 $