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Cullumber Corporation reported net sales of $263,900, cost of goods sold of $171,535, operating expenses...

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Cullumber Corporation reported net sales of $263,900, cost of goods sold of $171,535, operating expenses of $81,200, net income of $52,780, beginning total assets of $492,700, and ending total assets of $621,800. (a1) Calculate profit margin and gross profit rate. (Round answers to 1 decimal ploce, es. 10.2\%.) Profit margin Gross profit rate % %

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