Pharoah Company reported the following in its 2025 and 2024 income statements. 2025 2024 Net sales $150,000 $130,000 Cost of goods sold 96,000 83,200 Operating expenses 36,000 18.200 Income tax expense 11,700 8,900 Net income $6,300 $19,700 (a1) 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 2025 2024