Sarasota Corp. reported net sales $600,000, cost of goods sold $336,000, operating expenses $160,000, and net income $63,600. Calculate the profit margin and gross profit rate. (Round Profit margin answer to 2 decimal places, e.g. 10.20%. Round Gross profit rate answer to 0 decimal place, e.g. 10%.)

Sarasota Corp. reported net sales $600,000, cost of goods sold $336,000, operating expenses $160,000, and net income $63,600. Calculate the profit margin ayd gross profit rate. (Round Profit margin answer to 2 decimal ploces, es. 10.20\%. Round Gross profit rate answer to Odecimal ploce, es. 10x)