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Concord Lte reported the following condensed statement of income data (in thousands) for the year ended August 31, 2024: begin{tabular}{lr} Administrative expenses & $588

image text in transcribedimage text in transcribed Concord Lte reported the following condensed statement of income data (in thousands) for the year ended August 31, 2024: \begin{tabular}{lr} Administrative expenses & $588 \\ Cost of goods sold & 3,224 \\ Income tax expense & 492 \\ Sales & 6,200 \\ Interest expense & 238 \\ Selling expenses & 232 \end{tabular} Calculate the gross profit margin and profit margin. (Round your answers to 1 decimal place, e.g. 5.2\%.) Gross profit margin % Profit margin %

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