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Consider the following 2020 year-end financial information reported by the ABC Life Insurance Company: Total Assets : $100,000,000 Total Revenue : $ 16,000,000 Total Liabilities

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Consider the following 2020 year-end financial information reported by the ABC Life Insurance Company: Total Assets : $100,000,000 Total Revenue : $ 16,000,000 Total Liabilities : $ 68,000,000 Total Expenses :$ 9,000,000 Calculate: a. the ABC's owners' equity at the end of 2020; and b. net income/loss in 2020

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