The vice president of marketing and the director of human resources have developed a proposal whereby the company would compensate the sales force on a strictly commission basis. Given the increased incentive, they expect net sales to increase by 15%. As a result, they estimate that gross profit will increase by $53,385 and expenses by $77,352. Compute the expected new net income. Then, compute the revised profit margin and gross profit rate. (Ignore income tax effects.)

Net Sales is $1,166,880

Gross Profit is $356,004

Expense is $295,416

Need answers for these below

Revised Net Income:

Revised profit margin (Round to 1 decimal place, e.g. 15.2%)

Revised gross profit rate (Round to 1 decimal place, e.g. 15.2%)