Bramble corp. reported net sales of $248,700, cost of goods sold of $146,900, operating expenses of $58,000, net income of $39,900, beginning total assets of $473,900, and ending total assets of $635,400. calculate profit margin and gross profit rate. (round answers to 1 decimal place, e. g. 10.5%.) profit margin enter percentages rounded to 1 decimal place % gross profit rate

profit margin is 16.0 %

gross profit rate  is 39.6 %

Explanation:

given data

net sales = $248,700

cost of goods sold = $146,900

operating expenses = $58,000

net income = $39,900

beginning total assets = $473,900

ending total assets of $635,400

to find out

profit margin and gross profit rate

solution

we will apply here profit margin formula that is

profit margin =      ..............1

put here value

profit margin =  

profit margin = 16.04 = 16.0 %

and

gross profit rate formula is

gross profit rate  =    ..............2

put here value

gross profit rate  =

gross profit rate   is 39.72 = 39.6 %

yup the answer is