Question: Current Attempt in Progress Windsor, Inc. reported the following in its 2022 and 2021 income statements. 2022 2021 Net sales $142,000 $112.000 Cost of goods

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

Current Attempt in Progress Windsor, Inc. reported the following in its 2022 and 2021 income statements. 2022 2021 Net sales $142,000 $112.000 Cost of goods sold Operating expenses 85,200 29,820 17,200 67,200 14,560 9,200 Income tax expense Net income $ 9,780 $ 21,040 Determine the company's gross profit rate and profit margin for both years. (Round answers to 1 decimal place, e.g. 52.7%.) 2022 2021 Gross profit rate Profit margin

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