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Pina Colada Corp. reported net sales of $243,900, cost of goods sold of $130,400, operating expenses of $54,400, net income of $38,900, beginning total assets
Pina Colada Corp. reported net sales of $243,900, cost of goods sold of $130,400, operating expenses of $54,400, net income of $38,900, beginning total assets of $453,300, and ending total assets of $612,700. Calculate profit margin and gross profit rate. (Round answers to 1 decimal place, e.g. 10.5%.)
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