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The adjusted trial balance of Crane Company included the following selected accounts: Debit Credit Sales Revenue $639,000 Sales Returns and Allowances $60,000 Sales Discounts 9,900

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The adjusted trial balance of Crane Company included the following selected accounts: Debit Credit Sales Revenue $639,000 Sales Returns and Allowances $60,000 Sales Discounts 9,900 Cost of Goods Sold 407,000 Freight-Out 3,000 Advertising Expense 13,300 Interest Expense 20,400 Salaries and Wages Expense 88,000 Utilities Expense 24,000 Depreciation Expense 4,000 Interest Revenue 25,800 Calculate the profit margin and gross profit rate. (Round answers to 1 decimal places, e.g. 15.2%.) Profit margin % Gross profit rate %

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