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MigMo Corp's financial statements contain the following information: Sales = $280mm Assets = $280mm Equity = $140mm ROE = 10% Current assets = $57mm MigMo's

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?

  • Yes, the firm's net margin was 10%
  • Yes, the firm's net margin was 20%
  • No, the firm's net margin was 7.22%
  • No, the firm's net margin was less than 8%

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