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Show Attempt History Current Attempt in Progress Financial information is presented here for two companies. Sales revenue Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses Net income (a) Oriole Company $61,000 ? 52,000 34,320 ? 12,000 ? Sheffield Company ? 4,160 78,000 ? 31,200 ? 14,820 Your answer is correct. Compute the missing amounts. Sales revenue Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses Net income Oriole Company $ $ $61,000 9000 52,000 34,320 17680 12,000 5680 Sheffield Company $ $ 82160 "1" 4,160 78,000 46800 31,200 16380 14,820 (b) * Your answer is incorrect. Calculate the profit margin and the gross profit rate for each company. (Round answers to 2 decimal places, e.g. 15.25.) Profit margin Gross profit rate Oriole Company eTextbook and Media Save for Later 9.31 28.98 Sheffield Company 18.04 Attempts: 1 of 2 used 37.97 Attempts: 1 of 2 used Submit