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GS Retail reported the following for the past two fiscal years: 2021 2020 Net sales $944,000 $782,000 Cost of goods sold 596,608 484,840 Profit 67,024

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GS Retail reported the following for the past two fiscal years: 2021 2020 Net sales $944,000 $782,000 Cost of goods sold 596,608 484,840 Profit 67,024 64,906 Calculate the gross profit margin and profit margin for both years. (Round answers to 2 decimal places, eg. 1273%) 2021 2020 Gross profit margin %6 X Profit margin

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