Oriole Corporation reported net sales of $271,700, cost of goods sold of $135,850, operating expenses of $62,700, net income of $40,755, beginning total assets of $470,400, and ending total assets of $609,000. (a1) Calculate profit margin and gross profit rate. (Round answers to 1 decimal place, e.g. 10.2%.) Profit margin 15 % Gross profit rate 50 %