ABC Insurance Company reported the following information on its accounting statements last year:

Premiums Written $120,000,000

Loss Adjustment Expenses $10,000,000

Underwriting Expenses $18,000,000

Premiums Earned $100,000,000

Incurred Losses $78,000,000

Net Investment Income $3,000,000

1.What was ABC's expense ratio last year?

2.What was ABC's loss ratio last year?

3.What was ABC's combined ratio last year?

4.What was ABC's investment ratio last year?

5.What was ABC's overall ratio last year?

6.Please select the correct statement below:

Group of answer choices

ABC insurance had a loss last year from investment activities.

ABC insurance had a gain last year from underwriting activities.

ABC insurance had a loss last year from underwriting activities only.

ABC insurance had an overall loss last year from both underwriting and investment activities.