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. Colossal Chemical Corporation Year Ended December 31, 2021 (\$000.000 omitted) Case 2% increase in Gross Margin Case Researchand development Total costs and expenses Operating Income Interest expense Earnings before Income Taxes Provision for Income Taxes Net Income 63 $1,995$ $ $ 115 39 $76$ $ s 15 $61$ $