Selected financial data for Barnstable Company appear below:

$20$x$9($in thousands$)20$x$8($in thousands$)$

Sales $$1,500$ $$1,200$

Operating Expenses $450400$

Interest Expense $7530$

Cost of Goods Sold $1,000720$

Dividends Declared and Paid $300$

For $20\backslash$times $9,$ the gross margin as a percentage of sales was:

Multiple Choice

$5\%.$

$40\%.$

$10\%.$

$33\%.$