Use the Following to Answer Questions
Little Deer Industries

question 26

Multiple Choice

Use the following to answer questions
Little Deer Industries gathered the following year-end data (in thousands) for 2010 and 2009:
$$\begin{array} { l l l } \text { Curent Assets } & \frac { 2010 } { 2009 } & \frac { 2025 } { \$ 465 } \\\text { Long-Tenn Arsets } & 885 & 585 \\\text { Curtert Liabilities } & 385 & 385 \\\text { Long-Term Liabilities } & 575 & 575 \\\text { Owners' Equity } & 575 & 265 \\\text { Net Sales } & 975 & 775 \\\text { Gross Margir } & 485 & 365 \\\text { Net Income } & 255 & 100\end{array}$$
-The gross margin percentage for 2010 was:

• A)35.0%
• B)45.1%
• C)49.7%
• D)52.3%

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Definitions:

Social Institutions

Established sets of norms and structures that guide society, such as family, education, religion, and government.

Class Structure

The organization of society into hierarchical layers based on socioeconomic status, wealth, occupation, or other social distinctions.

Economy

A framework for creating, distributing, and consuming goods and services in a community.

Intellectual

An individual engaged in critical thinking and the study or exploration of ideas, often contributing scholarly knowledge to various fields.