assume the growth in sales in 2024 is primarily from online lessons .calculate the gross margins and the profit margins

Sheridan Ltd. is a small restaurant and culinary business started four years ago by Carol Garcia. Initially the company's operations consisted of a small diner. In 2023, the company added online culinary lessons to expand sales. The online culinary events are sold to corporations that provide the lessons as performance incentives to their employees. As the culinary lessons side of the business grew in 2024, the company purchased a used vehicle to deliver meal kits to be used for the lessons. All sales in the diner are cash, debit, or credit card, but culinary lessons, which are sold to corporations, are invoiced after the event with payment due in 30 days. Most of the company's suppliers offer terms of 15 days. Selected financial information for Sheridan Ltd. follows. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|l|}{ Assets } \\ \hline Cash & $11,460 & $6,420 \\ \hline Accounts receivable & 20,400 & 13,790 \\ \hline Inventory & 12,370 & 7,540 \\ \hline Land & 17,420 & 17,420 \\ \hline Building and equipment & 41,380 & 35,780 \\ \hline Total assets & $103,030 & $80,950 \\ \hline \multicolumn{3}{|l|}{ Liabilities and equity } \\ \hline Accounts payable & $9,260 & $7,320 \\ \hline Short-term note payable & 2,670 & 2,050 \\ \hline Mortgage payable current & 4,470 & 4,470 \\ \hline Mortgage payable & 29,120 & 34,870 \\ \hline Share capital & 15,700 & 15,700 \\ \hline Retained earnings & 41,810 & 16,540 \\ \hline Total liabilities and equity & $103,030 & $80,950 \\ \hline \multicolumn{3}{|l|}{ Other information } \\ \hline Sales & $209,780 & $171,170 \\ \hline Cost of goods sold & 84,640 & 80,400 \\ \hline Net income & 25,270 & 12,320 \\ \hline \end{tabular}