Windsor, Inc. reported the following in its 2025 and 2024 income statements. Net sales Cost of goods sold Operating expenses Income tax expense Net income Gross profit rate 2025 Profit margin $142,000 82,360 29,820 14,200 $15,620 2024 2025 $112,000 64,960 14,560 (a1) Determine the company's gross profit rate and profit margin for both years. (Round answers to 1 decimal place, e.g. 52.7%.) 11,200 $21,280 % % 2024 % %

Windsor, Inc, reported the following in its 2025 and 2024 income statements. (a1) Determine the company's gross profit rate and profit margin for both years. (Round answers to 1 decimal place, eg. 52 .7\%.)