JKL Enterprises reported these figures for 2023:

• Total Sales: $750,000
• Cost of Goods Sold: $450,000
• Administrative Expenses: $75,000
• Selling Expenses: $50,000
• Interest Expense: $10,000
• Tax Expense: $20,000

Requirements:

1. Create an income statement.
2. Calculate the gross profit margin.
3. Calculate the operating profit margin.
4. Calculate the net profit margin.
5. Assess the impact of a 5% increase in sales and a 10% increase in COGS on the net profit margin.