MyBnB started a home rental company on January 1. As of November 30, MyBnB reported the following balances. The company does not yet have a balance in Retained Earnings because this is its first year of operations so no net income has been reported in prior years. Accounts Payable $ 480 Equipment $ 3,840 Cash 1,600 Repairs Expense 320 Cleaning Expense 1,440 Service Revenue 3,200 Common Stock 4,800 Wages Expense 1,280 6. Based on the financial statements prepared in requirement 5, determine whether the owner met her 10 percent net profit margin goal as of December 31. (Round your answer to 1 decimal place.)