11. SJ, Inc, covered the following employees under a qualified plan. 1. Joan, a 9% owner and employee with compensation of $30,000. 2. Lind, a commissioned salesperson with compensation of $160,000 last year (in the top 20% of paid employees). 3. Reilly, the chief operating officer, who had compensation of $185,000 last year but was not in the top 20% of paid employees. 4. Garner, the president, who was in the top 20% of paid employees with compensation of $195,000. Assume that SJ, Inc, also has three additional employees who are not covered under the qualified plan. 5. Michelle, the CFO, had compensation of $165,000 last year, placing her in the top 20% of paid employees. 6. Thomas is a commissioned salesperson with compensation of $50,000 last year. 7. Jesus, who had compensation of $170,000 last year, placing him in the top 20% of paid employees. Assuming that no election is made by the company, and based only on the information available, which of the following statements is correct? Use 2023 levels for determining highly compensated and key employees. a. The plan meets the qualification standards for this year because it passes the ratio percentage test. b. The plan does not meet the qualification standards for this year because it does not pass the Safe Harbor test and the Ratio Percentage Test. c. The plan meets the qualification standards for this year because it passes the safe harbor test. d. The plan does not meet the qualification standards for this year because it does not pass the Safe Harbor test or the Ratio Percentage Test