Net sales are $400,000, cost of goods sold is $310,000, operating expenses are $60,000 and other revenues are $5,200. What are the gross profit margin and profit margin? 

a. 22.5% and 7.5% 

b. 7.5% and 8.8% 

c. 22.5% and 8.8% 

d. 17.5% and 7.5%