Skysong, Inc.reported net sales of $241,000, cost of goods sold of $144,600, operating expenses of $60,900, net
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Question:
Skysong, Inc.reported net sales of $241,000, cost of goods sold of $144,600, operating expenses of $60,900, net income of $38,560, beginning total assets of $467,000, and ending total assets of $629,200.
Calculate profit margin and gross profit rate.(Round answers to 1 decimal place, e.g. 10.2%.)
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