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Cullumber Corporation reported net sales of $272,000, cost of goods sold of $146,880, operating expenses of $60,000, net income of $51,680, beginning total assets of

image text in transcribed Cullumber Corporation reported net sales of $272,000, cost of goods sold of $146,880, operating expenses of $60,000, net income of $51,680, beginning total assets of $535,900, and ending total assets of $644,500. Calculate profit margin and gross profit rate. Profit margin % Gross profit rate %

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