Windsor, Inc. reported the following in its 2017 and 2016 income statements.

20172016Net sales

$141,000$112,800Cost of goods sold

84,50067,750Operating expenses

30,00015,000Income tax expense

17,0009,500Net income

$ 9,500$ 20,550

Determine the company's gross profit rate and profit margin for both years

2017-2016

%Gross profit rate

%Profit margin