An alphabetical list of Wildhorse Company adjusted accounts at its fiscal year end, August 31, 2024, fllows. AII accounts have normal balances. Accounts payable $15,600 Notes payable $42,000 Accumulated depreciation-equipment 14,000 Prepaid insurance 575 Accumulated depreciation-furniture 17 ,500 R. Hall, capital 65,750 Cash 36,860 R. Hall, drawings 70,000 Cost of goods sold 265,640 Rent expense 25,000 Depreciation expense 7.100 Salaries expense 50,800 Equipment 35,000 Salaries payable 2,250 Furniture 42,000 Sales 472,000 Insurance expense 3,575 Sales returns and allowances 14,000 Interest expense 3,380 Supplies 950 Interest payable 555. Supplies expense 6,325. Merchandise inventory 7 1,050 Unearned revenue 2,600 Additional information: 1. Of the notes payable, $6,100 becomes due on February 17, 2025. The balance is due in 2026. 2. On July 18, 2024, R. Hall invested $4,200 cash in the business

calculate the profit margin and the gross profit margin