Use the following to answer questions 47-49: Selected financial data for Barnstable Company appear below: 19x9 19x8 (in thousands) Sales $1,500 $1,200 Operating Expenses 450 400 Interest Expense 75 30 Cost of Goods Sold 900 720 Dividends Declared and Paid 30 0 For 19x9, the gross margin as a percentage of sales was: a. 5%. b. 60%. c. 10%. d. 40%. Save Answer 48. (Points: 1) For 19x9, the net income before taxes as a percentage of sales was: a. 10%. b. 3%. c. 8%. d. 5%. Save Answer 49. (Points: 1) For 19x9, the net operating income as a percentage of sales was: a. 70%. b. 8%. c. 10%. d. 40%