Cornerstone Exercise 5-36 Ratio Analysis

The following information pertains to Cobb Corporation's financial results for the past year.

Net sales	$135,000
Cost of goods sold	48,000
Other expenses	37,000
Net income	50,000

Required:

1. Calculate Cobb's gross profit margin ratio. Round your answer to the nearest whole percent. fill in the blank %

2. Calculate Cobb's net profit margin ratio. Round your answer to the nearest whole percent. fill in the blank %