1. 61 and 2. 35 are not correct either

Brief Exercise 5-55 Ratio Analysis 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. Round your answer to the nearest whole percent. 35 X % 2. Calculate Dobby's net profit margin ratio. Round your answer to the nearest whole percent. 61 X %