Wildhorse Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting business away from city areas. At the end of the companys fiscal year on November 30, 2025, these accounts appeared in its adjusted trial balance.

Accounts Payable		$ 39,400
Accounts Receivable		25,600
Accumulated DepreciationEquipment		102,000
Cash		12,000
Common Stock		52,500
Cost of Goods Sold		928,200
Freight-Out		9,730
Equipment		238,590
Depreciation Expense		20,700
Dividends		18,000
Gain on Disposal of Plant Assets		3,000
Income Tax Expense		15,000
Insurance Expense		13,500
Interest Expense		7,500
Inventory		39,100
Notes Payable		65,250
Prepaid Insurance		9,000
Advertising Expense		50,250
Rent Expense		51,000
Retained Earnings		34,360
Salaries and Wages Expense		178,040
Salaries and Wages Payable		9,000
Sales Returns and Allowances		30,000
Sales Revenue		1,356,000
Utilities Expense		15,300

Additional data: Notes payable are due in 2029.

Wildhorse Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting business away from city areas. At the end of the companys fiscal year on November 30, 2025, these accounts appeared in its adjusted trial balance.

Accounts Payable		$ 39,400
Accounts Receivable		25,600
Accumulated DepreciationEquipment		102,000
Cash		12,000
Common Stock		52,500
Cost of Goods Sold		928,200
Freight-Out		9,730
Equipment		238,590
Depreciation Expense		20,700
Dividends		18,000
Gain on Disposal of Plant Assets		3,000
Income Tax Expense		15,000
Insurance Expense		13,500
Interest Expense		7,500
Inventory		39,100
Notes Payable		65,250
Prepaid Insurance		9,000
Advertising Expense		50,250
Rent Expense		51,000
Retained Earnings		34,360
Salaries and Wages Expense		178,040
Salaries and Wages Payable		9,000
Sales Returns and Allowances		30,000
Sales Revenue		1,356,000
Utilities Expense		15,300

Additional data: Notes payable are due in 2029.

(b) Calculate the profit margin and the gross profit rate. (Round answers to 1 decimal place, e.g. 15.2\%) Profit margin % Gross profit rate % eTextbook and Media List of Accounts Attempts: 0 of 3 used