Pronghorn Corp reported net sales $675,000, cost of goods sold $438,750, operating expenses $154,000, and net income $69,525.
Calculate the profit margin and gross profit rate. (Round Profit margin answer to 2 decimal places, e.g. 10.20%. Round Gross profit rate
answer to 0 decimal place, e.g. 10%).
Profit margin
%
Gross profit rate
%