H1.AccountI would need to calculate with the following information provided. This is all that was provided to me.COGS: 68% - SGA: 13% - R&D: 2% - Depreciation, Interest expenses are fixed as stated. Tax rate is 19% ***Please do provide a step by step calculations and explanation*** Given the following case, calculate the independent effects of a 1 percent increase in Gross Margin, a 1 percent decrease in theTaxRate, and a 5 percent increase in Sales.t of goods solding, general, andninistrative expensereciationearch and developmenttal costs and expensesating Incomerest expenseision for Income TaxesBaseCasencome$2,1101,43527416042$1,91119939ings before Income Taxes $160 $301% Increase in Gross Margin$69Colossal Chemical CorporationYear Ended December 31, 2021($000,000 omitted)$130 $21101428.2516042$69$$$1% Decrease in Tax Rate2110143527416042191119939$$160 $$5% Increase in Sales2215.5160

According to the question given, we need to prepare the projected income statement.Projected income…

Given the following case, late 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. of goods sold ng. general, and ministrative expense reciation earch and development tal costs and expenses ating Income rest expense sion for Income Taxes Base Case come $ 2,110 1,435 274 160 42 $ 1,911 199 39 ngs before Income Taxes $160 $ 30 1% Increase in Gross Margin $ $ Colossal Chemical Corporation Year Ended December 31, 2021 ($000,000 omitted) $130 S 2110 1428.25 160 42 $ $ $ $ 1% Decrease in Tax Rate 2110 1435 274 160 42 1911 199 39 $ $ 160 $ $ 5% Increase in Sales 2215.5 160

Given the following case, late 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. of goods sold ng. general, and ministrative expense reciation earch and development tal costs and expenses ating Income rest expense sion for Income Taxes Base Case come $ 2,110 1,435 274 160 42 $ 1,911 199 39 ngs before Income Taxes $160 $ 30 1% Increase in Gross Margin $ $ Colossal Chemical Corporation Year Ended December 31, 2021 ($000,000 omitted) $130 S 2110 1428.25 160 42 $ $ $ $ 1% Decrease in Tax Rate 2110 1435 274 160 42 1911 199 39 $ $ 160 $ $ 5% Increase in Sales 2215.5 160

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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