Brief Exercise 5-11

Pronghorn Corp reported net sales of $242,400, cost of goods sold of $144,100, operating expenses of $47,000, net income of $36,000, beginning total assets of $518,600, and ending total assets of $569,200. Calculate profit margin and gross profit rate. (Round answers to 1 decimal place, e.g. 10.5%.)

Profit margin		%
Gross profit rate		%