The following data is from the income statement of Ralston Company:

Revenue	$	1,600
Cost of goods sold		(1,050	)
Operating expenses		(450	)
Net income	$	100

What is the company's gross margin percentage? (Round your answers to three decimal places.):

Multiple Choice

• 6.250%

• 34.375%

• 65.625%

• 18.180%