Metlock, Inc. reported net sales of $254,000, cost of goods sold of $152,400, operating expenses of $59,700, net income of $40,640, beginning total assets of $501,500, and ending total assets of $638,900. Calculate profit margin and gross profit rate. (Round answers to 1 decimal place, e.g. 10.2%.) Profit margin 0.2 % Gross profit rate 0.4 %