Conceptual Connection: If Gilmore's estimate of bad debts is correct $(3\mathrm{.}05\%$ of credit sales$)$ and the gross margin is $20\%,$ by how much did Gilmore's income from operations increase assuming $$150,000$ of the sales would have been lost if credit sales were not offered?

NOTE: Previous expert answered $$34575$ and that is incorrect acording to my homework software