Your answer is incorrect. Try again. Flounder Corp. reported net sales of $255,600, cost of goods sold of $111,500, operating expenses of $46,500, net income of $39,900, beginning total assets of $468,300, and ending total assets of $630,500 Calculate profit margin and gross profit rate. (Round answers to 1 decimal place, e.g. 10.5%.) Profit margin Gross profit rate