QS 3-32 (Algo) Computing and analyzing profit margin LO A1 Gomez Company reported net income of $69,025 and net sales of $705,000 for the current year. (a) Compute Gomez's profit margin. (b) Assuming Cruz (a competitor) has a profit margin of 15%, which company is generating more profit on each dollar of sales? Complete this question by entering your answers in the tabs below. Compute Gomez's profit margin