Use the Following to Answer Questions
Big Deer Industries Gathered $2010 \quad 2009$

Use the following to answer questions
Big Deer Industries gathered the following year-end data (in thousands) for 2010 and 2009:
                                                        $2010 \quad 2009$
$\begin{array}{lrr}\text { Current Assets } & \$ 450 & \$ 500 \\\text { Long-Term Assets } & 810 & 620 \\\text { Current Liabilities } & 310 & 420 \\\text { Long-Term Liabilities } & 500 & 610 \\\text { Owners' Equity } & 500 & 300 \\\text { Net Sales } & 900 & 810 \\\text { Gross Margin } & 410 & 400 \\\text { Net Tncome } & 180 & 13\end{array}$
-The gross margin percentage for 2010 was:

A) 33.0%
B) 40.1%
C) 42.2%
D) 45.6%

Correct Answer:

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