Pharoah Company reported net sales of $266,000, cost of goods sold of $159,600, operating expenses of $46,400, net income of $42,560, beginning total assets of $492,700, and ending total assets of $621,800. Calculate profit margin and gross profit rate. (Round answers to 1 decimal place, e.g. 10.2%.) Profit margin Gross profit rate eTextbook and Media % %