Larkspur, Inc. reported the following in its 2022 and 2021 income statements. 2022 2021 Net sales $144,000 $114,000 Cost of goods sold 86,400 68,400 Operating expenses 31,680 15,960 Income tax expense 17,400 9,400 Net income $ 8,520 $ 20,240 Determine the company's gross profit rate and profit margin for both years. (Round answers to 1 decimal place, e.g. 52.7%.) Gross profit rate Profit margin 2022 2021 % % % %