Can you please do both question :)

View Policies Show Attempt History Current Attempt in Progress The following selected accounts from Highview Electronics Corporation's general ledger are presented bel December 31, 2021: Accounts receivable Accumulated depreciation-equipment Advertising expense Common shares Cost of goods sold Depreciation expense Dividends declared Equipment Freight out Income tax expense Insurance expense Interest expense Interest income Inventory Prepaid expenses Rent income Retained earnings Salaries expense Sales $243,800 703,340 50,600 230,000 1,078,240 115.000 138.000 1,334,000 23,000 64,400 21,160 57,040 27,600 89.240 28.520 22,080 492,200 648,600 2,382,340 Highview Electronics Corporation Statement of Income (Multiple-step) $ $ $ Net sales LOSS Inventory, ending Inventory, beginning Cost of goods available for sale Sales revenues Cost of goods purchased Income from operations Gross profit Other income and expenses Income before income tax Net income Net purchases Operating expenses Total operating expenses $ Flint Ltd. $1.422,000 659,808 Pina Colada Ltd. $2,133,000 1.177,416 762192 955584 586,000 642584 i 176192 Sales Cost of goods sold Gross profit Operating expenses Income from operations Other income Other expenses Income before income tax Income tax expense Net income 313,000 0 4,000 0 4,300 180192 308700 39.414 57006 140778 251,694 e Textbook and Media Solution Attempts: 3 of 3 used (b) Calculate the gross profit margin and proht margin for each company. (Round all amounts to 1 decimal place, eg. 5.2%) Flint Pina Colada Gross profit margin % 96 Profit margin %