Question: Current Attempt in Progress Metlock, Inc. reported the following in its 2022 and 2021 income statements. 2021 Net sales Cost of goods sold Operating expenses

Current Attempt in Progress Metlock, Inc. reported the following in its

Current Attempt in Progress Metlock, Inc. reported the following in its 2022 and 2021 income statements. 2021 Net sales Cost of goods sold Operating expenses Income tax expense Net income 2022 $146.000 87,600 33,580 17.600 $7.220 $116.000 69.600 12.760 9.600 $24.040 Determine the company's gross profit rate and profit margin for both years. (Round answers to 1 decimal place. eg. 527%) 2022 2021 Gross profit rate % Profit margin % %

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