18.) MigMo Corp's financial statements contain the following information:

• Sales = $280mm
• Assets = $280mm
• Equity = $140mm
• ROE = 10%
• Current assets = $57mm

MigMo's goal is to have a net margin greater than 8%. Did the company achieve its goal?

a.) yes, the firms net margin was 10%

b.) yes, the firms net margin was 20%

c.) no, the firms net margin was 7.22%

d.) no, the firms net margin was less than 8%.