Blossom Corporation reported net sales of $280,800, cost of goods sold of $182,520, operating expenses of $64,800, net income of $42,120, beginning total assets of $450,000, and ending total assets of $560,000. (a1) Calculate profit margin and gross profit rate. (Round answers to 1 decimal place, e.g. 10.2\%.) Profit margin % Gross profit rate \%