ABC Corporation reported the following in its 2018 and 2017 incomestatements.
		2018		2017
Net sales		$ 100,000		120,000
Cost of goods sold		46,000		62,000
Operating expenses		26,000		34,000
Income tax expense		7,000		6,000
Net income		$ 28,000		$ 18,000
Determine the company's gross profit rate and profit margin for each year.
		2018		2017
Gross profit rate
Profit margin