The following information is available from the annual reports of Sandhill Company and Blue Inc. Sandhill (Amounts in millions) Sales revenue Cost of goods sold Operating expenses Income before taxes $38,650 20,100 7,900 4,430 2,700 Blue $48,600 24,000 10,580 6,290 3,570 Net income (a) Calculate the profit margin and gross profit rate for each company. (Round answers to 1 decimal places, e.g. 15.2%.) Sandhill Blue Profit margin % % Gross profit rate % %