Dresden Inc

Multiple Choice

Dresden Inc.has net sales of $1,200,000,cost of goods sold of $900,000,operating expenses of $200,000,interest expense of $30,000,and income tax expense of $10,000.The company's gross margin ratio is (round to the nearest tenth of a percent) :

A) 8.3%
B) 5.0%
C) 10.0%
D) 25.0%
E) None of the answer choices is correct.