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Following is the information of MH insurance company engaged in General insurance as on 31 December 2019, find out the following: Particulars Direct Insurance RO

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Following is the information of MH insurance company engaged in General insurance as on 31" December 2019, find out the following: Particulars Direct Insurance RO Re-insurance RO 1. Premium Received Receivable-01 Jan 2019 - 31 Dec 2019 2,000,000 1,00,000 1.50,000 3,20,000 20,000 30,000 2. Premium Pald 2.00,000 Payable - 01 Jan 2019 10,000 31 Dec 2019 30,000 3. Claims: Paid 12.50,000 1,05,000 1.500.000 1.00,000 10.000 20,000 Payable-01 Jan 2019 31 Dec 2019 4. Claims Received Receivable-01 Jan 2019 120.000 19.000 15,000 -31 Dec 2019 1,80,000 21,000 24,000 5. Commission on Insurance acepted on insurance ceded Other expenses and income: Salaries RO 160,000, Rent rates & taxes RO 15,000, Printing & stationery RO 20000, Interest, dividend & rent received (net) RO 120,000, Legal expenses (including RO 10,000 in connection with the settlement of claims) RO.50,000, Income tax RO 10,000, Bad debts RO. 25.000 You are required to calculate: Net premium received, Claims incurred, commission paid, income from investments, operating expenses and the amount of operating profit or loss related to insurance business

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