12/31/2019 12/31/2018 Accounts receivable $14,000 $18,000 Accounts payable 22,000 15,000 Cost of goods sold 144,000 127,000 Sales 279,000 239,000 Sales returns 12,000 10,000 47,000 16,000 Retained earnings Dividends Income from operations 2,000 3,000 25,000 16,000 Net income 19,000 18,000 Required: 1. Calculate the gross profit margin and operating margin percentage for 2019. Enter your answer as percentage, rounded to two decimal places (e.g. .0248563 to 2.49%). 2019 Gross profit margin percentage 46.07 % Operating margin percentage 9.36 % 2. Assuming that all of the operating expenses are fixed (or, won't change as sales increase or decrease), what will be the operating margin percentage if sales increase by 25%? Round your answer to two decimal places. Operating margin percentage 27.491 X %