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Income statement information is presented here for two companies: Calculate the missing amounts. Pronghorn Ltd. Culver Ltd. $1,468,000 $ 39,000 Sales Sales returns and allowances

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Income statement information is presented here for two companies: Calculate the missing amounts. Pronghorn Ltd. Culver Ltd. $1,468,000 $ 39,000 Sales Sales returns and allowances Net sales Cost of goods sold Gross profit 50.200 2,147,000 1,181,000 661,000 585,000 Operating expenses Income from operations 313,000 Other revenues Other expenses 3,200 0 0 3.900 Income before income tax Income tax expense 35,600 Net income 251,800 Calculate the gross profit margin and profit margin for each company. (Round all amounts to 1 decimal place, e.g.5.2) Culver Pronghorn Gross profit margin % %6 Profit margin % %

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