1. FK Insurance Company reported the following information on its accounting statements last year (9 marks) Ratio Premium Written Loss Adjustment Expenses Underwriting Expenses Premiums Earned Incurred Losses 2014 $75,000,000 $5,500,000 $20,000,000 $125,000,000 $100,000,000 Loss ratio Expense ratio Combined ratio Overall ratio Industry figure 75% 25% 110% 95% 1. Calculate the company's: a. Loss Ratio b. Expense Ratio c. Combined Ratio