Part 2. Computational Analysis -In each of the problems below, provide the details/data required. Show your solutions in good form. (20 marks) Below is the Income and Expense Statement of Mars Insurance Company Mars Insurance Company Income and Expense Statement January 1, 2021-December 31, 2021 Revenue Premiums Written 140,000,000.00 Premiums Earned 130,000,000.00 Investment Income Interest 3,400,000.00 Dividiends 900,000.00 Rental Income 80,000.00 Gain on Sale of Securities 40,000.00 Total Investment Income 4,420,000.00 Total Revenue 134,420,000.00 Net Lossess Incured 60,000,000.00 Loss Adjustments Expenses 800,000.00 Total Lossess and Loss Adj. Expenses 60,800,000.00 Commission 3,000,000.00 Premium Tax 840,000.00 General Insurance Expense 50,000,000.00 Total Underwriting Expense 53,840,000.00 Total Expenses 114,640,000.00 Net Income Before Tax 19,780,000.00 Federal Income Tax 6,329,600.00 Net Income 13,450,400.00 In computing pure premium, gross rate and rate change, assume that the number of exposures of Mars Insurance Company is 1,200,000 units and their expected loss is 40% Net Investment Income Expense Ratio - - Underwriting Expenses Investment Income Ratio =_ Loss Ratio _ Incurred Losses + Loss Adjustment Expenses Premtions Written Earned Premiums Premhons Earned Investment Income Ratio = Net Imestment Income Earned PremitonsExpense Ratio - Underwriting Expenses Investment Income Ratio = = Net Investment Income Loss Ratio _ Incurred Losses + Loss Adjustment Expenses Premiions Written Earned Premitons Premhons Earned Investment Income Ratio = Net Imestment Income Earned Premitons Using the statement above, compute for the following given financial performance indicators. Refer to the formula box given below. MARKS Ratios 1. Loss Ratio 3 marks 2. Expense Ratio 3 marks 3. Combined Ratio 3 marks 4. Investment Income Ratio 3 marks 5. Over-all Operating Ratio 3 marks 6. Pure Premium 3 marks 7. Gross Rate 2 marks Rubrics (2 marks for steps 1 mark for the correct answer)