Teal Mountain Inc. reported the following in its 2017 and 2016 income statements. 2017 2016 Net sales $138,000 $110,400 Cost of goods sold 82,750 66,250 Operating expenses 29,500 14,750 Income tax expense 16,500 9,250 Net income $ 9,250 $ 20,150 Determine the companys gross profit rate and profit margin for both years. (Round answers to 1 decimal place, e.g. 52.7.) 2017 2016 Gross profit rate enter percentages rounded to 1 decimal place% enter percentages rounded to 1 decimal place% Profit margin enter percentages rounded to 1 decimal place% enter percentages rounded to 1 decimal place%