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) Sales Base Case 1% Increase in Gross Margin 1% Decrease in Tax Rate 5% Increase in Sales $2,110 $ Cost of goods sold 1,498 Selling, general, and 338 administrative expense Depreciation 160 Research and development 51 Total costs and expenses $2,047 $ Operating Income 63 Interest expense 39 Earnings before Income Taxes $24 $ $ Provision for Income Taxes 5 Net Income $ 19 $ $ $