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Financial information is presented here for two companies. Sheffield Inc. Bramble Inc. Sales $86,700 $96,000 Cost of goods sold 55,488 ? Gross profit ? 40.400

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Financial information is presented here for two companies. Sheffield Inc. Bramble Inc. Sales $86,700 $96,000 Cost of goods sold 55,488 ? Gross profit ? 40.400 Operating expenses 15,606 ? Net income 3 19.400 Calculate the profit margin and the gross profit margin for each company. (Round answers to 1 decimal place, eg. 17.5%) Sheffield Bramble Profit margin 95 96 % Gross profit margin

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