Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assets Members' equity Revenue Net income (loss). Life insurance in force. CONSOLIDATED BALANCE SHEET CONSOLIDATED HIGHLIGHTS 2021 2020 $36,316,396 $33,941,801 11,126,669 10,602,097 .14,227,337 12,934,095

image text in transcribed

Assets Members' equity Revenue Net income (loss). Life insurance in force. CONSOLIDATED BALANCE SHEET CONSOLIDATED HIGHLIGHTS 2021 2020 $36,316,396 $33,941,801 11,126,669 10,602,097 .14,227,337 12,934,095 734,513 403,154 105,873,280 103,575,577 CONSULIDATED STATEMENT OF INCOME ASSETS 2021 2020 REVENUE 2021 2020 Bonds. $19,049,402 $19,068,824 P&C premiums earned... $12.194,419 $11,381,7061 Common stocks. Cash and cash equivalents. 5,577,302 857.273 4,055,724 Life premiums earned... 372,364 Other assets. 10,832,419 880,736 9,936,517 Net investment income.... 1,356,643 Other income. 303.911 356,435 975,095 220,859 Total assets. $36,316,396 $33,941,801 Total revenue. $14,227,337 $12,934,095 LIABILITIES 2021 2020 BENEFITS AND EXPENSES 2021 2020 P&C loss & LAE reserve. $8,687,986 $8,064,657 P&C losses & LAE incurred. $8,788,053 $8,177,507 Life reserves & deposit contracts.. 4,510,831 4,414,892 Other P&C underwriting expenses... 3,940,046 3,519,950 P&C unearned premiums. Other liabilities.. 5,937,966 6,052,944 5,346,180 5,513,975 Life insurance claims and other benefits.248,137 Other expenses... 221,757 704,325 669,912 Total liabilities..... MEMBERS EQUITY Acquired capital. $25,189,727 $23,339,704 Total benefits and expenses... 13,680,561 12,589,126 Gain (loss) from operations 546,776 344,969 2021 2020 Realized capital gains (losses).. 384,555 140,409 $1,179,519 $1,179,519 Income (loss) before taxes. 931,331 485,378 Accumulated other Tax expense (benefit).. 179,213 81,378 comprehensive income: 229,542 476,141 Net income (loss). $752,118 $404,000 Retained earnings 9,657,947 Noncontrolling interest (NCI). 59,661 Total members' equity.. $11,126,669 8,923,434 23,003 $10,602,097 Net income (loss) attributable to NCI 17,605 846 Net income (loss) attributable to American Family Insurance Group.. $734,513 $403,154 2021 2020 Total liabilities & members' equity... $36,316,396 $33,941,801 UP CONSOLIDATED STATEMENT OF CHANGES IN MEMBERS' EQUITY Beginning members' equity attributable to American Family Insurance Group: Net income (loss). Unrealized gains (losses), net of tax... Other, net of tax... Ending members' equity attributable to American Family Insurance Group. Beginning members' equity attributable to noncontrolling interest.. Noncontrolling interest Ending members' equity... 2021 2020 $10,579,094 $9,755,196 734,513 403,154 (452,748) 380,549 206,149 $11,067,008 40,195 $10,579,094 23,003 36,658 $11,126,669 7,933 15,070 $10,602,097

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting Chapters 1-30

Authors: John Price, M. David Haddock, Michael Farina

14th edition

978-1259284861, 1259284867, 77862392, 978-0077862398

More Books

Students also viewed these Accounting questions

Question

How can budgeting aid in the coordination of corporate activities?

Answered: 1 week ago