Davenport Corporation reported net sales of $800,000; cost of goods sold of $520,000; operating expenses of $210,000; and net income of $70,000. Calculate each of the following values. (Round the ratios to 3 decimal places, e.g. 0.525.)
Profit margin ratio____??
Gross profit rate _____??
Profit margin ratio____??
Gross profit rate _____??