Fill in the missing amounts.
Sheffield Corp.
Tamarisk, Inc.
Sales revenue
$100,000
$enter a dollar amount
Sales returns and allowances
enter a dollar amount
6,000
Net sales
94,000
116,000
Cost of goods sold
64,860
Gross profit
enter a subtotal of the two previous amounts
38,280
Operating expenses
16,920
Net income
enter a total net income
17,400
Calculate the profit margin and the gross profit rate for each company.(Round answers to 0 decimal places, e.g. 15%.)
Profit margin
enter percentages rounded to 1 decimal place
%
Gross profit rate
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