In its income statement for the year ended December 31, 2022, Metlock, Inc. reported the following condensed data. Salaries and wages expenses $455,700 Loss on disposal of plant assets $80,160 Cost of goods sold 947.520 Sales revenue 2,121,600 Interest expense 68,160 Income tax expense 24,000 Interest revenue 62,400 Sales discounts 153,600 Depreciation expense 297.600 Utilities expense 105,600 (b) Your answer is incorrect. Calculate the profit margin and gross profit rate. (Round answers to O decimal places, e.g. 15%) Profit margin Gross profit rate % %