Answer both. Do not use excel.

A. AXA Company has a loss adjustment expense of 3718, underwriting expense of 786, premium worth of 5631, investment profit worth 450, Calculate company's overall operating ratio.

B. National Inc. recently reported net income of P1,500,000. The company has 300,000 shares of common stock, and it currently trades at P65 a share. The company continues to expand and anticipates that one year from now its net income will be P2,500,000. Over the next year the company also anticipates issuing an additional 100,000 shares of stock, so that one year from now the company will have 400,000 shares of common stock. Assuming the company's price/earnings ratio remains at its current level, what will be the company's stock price one year from now?