Dobby's income statement lists net sales of $179,000 and a gross margin of $111,000. All other expenses

Question:

Dobby's income statement lists net sales of $179,000 and a gross margin of $111,000. All other expenses not included in the gross margin totaled $46,500.
Required:
1. Calculate Dobby's gross profit ratio.
2. Calculate Dobby's net profit margin ratio?

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