Check TextField for null is throwing error

float pound, rate, result;
 
pound = Float.parseFloat(jTextField2.getText());
rate = Float.parseFloat(jTextField1.getText());
 
 
if (jTextField1.getText().equals("")){  // If the field is null, request the user to enter a number
 
    JOptionPane.showConfirmDialog((Component)
                null,  "Please enter a value for rate", "alert", JOptionPane.OK_CANCEL_OPTION);
}
else if (jTextField2.getText().equals("")){ // If the field is null, request the user to enter a number
       JOptionPane.showConfirmDialog((Component)
                null,  "Please enter a value for pounds", "alert", JOptionPane.OK_CANCEL_OPTION);
}
else
{
result = pound*rate;
jTextField3.setText(String.valueOf(result));
}
}