Blossom Company reported the following in its 2022 and 2021 income statements. Net sales Cost of goods sold Operating expenses Income tax expense Net income 2022 $162,000 97,200 29,160 20,000 $ 15,640 2021 $136,000 81,600 20,400 12,000 $ 22,000 Determine the company's gross profit rate and profit margin for both years. (Round answers to 1 decimal place, eg. 52.7%.) 2022 2021 Gross profit rate % % Profit margin % % e Textbook and Media