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$900720$Dividends Declared and Paid $30$For $20$ x $9,$ the gross margin as a percentage of sales was:$40\%\mathrm{.}60\%\mathrm{.}5\%\mathrm{.}10\%.$Hide hint for Question $13$GrossMargin $\%=($Gross Margin$/$Sales$)\backslash$times $100$