ILLUSTRATION 3. The life fund of a Life Assurance Company was $ 86,48,000 as on 31st March, 2016. The interim bonus paid during the intervaluation period was $1,48,000. The periodical actuarial valuation determined the net liability at $74,25,000. Surplus brought forward from the previous valuation was $8,50,000. The Directors of the company proposed to carry forward $9,31,000 and to divide the balance between the shareholders and the policyholders in the ratio of 1 : 10. Show (a) the Valuation Balance Sheet ; (b) the net profit for the valuation period; and (c) the distribution of the surplus