Dr. Zhivago Diagnostics Corporation's income statement for 20X1 is as follows: Sales Cost of goods sold Gross profit Selling and administrative expense Operating profit Interest expense Taxes (30%) $ 2,790,000 1,790,000 $ 1,000,000 302,000 $ 698,000 54,800 $ 643,200 192,960 $ 450,240 Income before taxes Income after taxes a. Compute the profit margin for 20X1. Note: Input the profit margin as a percent rounded to 2 decimal places. Profit margin % b. Assume that in 20X2, sales increase by 10 percent and cost of goods sold increases by 20 percent. The firm is able to keep all other expenses the same. Assume a tax rate of 30 percent on income before taxes. What are income after taxes and the profit margin for 20X2? Note: Input the profit margin as a percent rounded to 2 decimal places. Income after taxes Profit margin 20X2 %