Windsor, Inc. reported the following in its 2017 and 2016 income statements. Net sales Cost of goods sold Operating expenses Income tax expense Net income 2017 $165,000 100,650 38,790 15,000 $ 10,560 2016 $110,000 67,100 17,870 6,000 $ 19,030 Determine the company's gross profit rate and profit margin for both years. (Round profit margin answers to 1 decimal 2017 2016 Gross profit rate % 96 Profit margin % %