Problem 3: The following particulars relate to Imaginary Life Insurance Company as on 31st March 2017 Balance of Life Insurance Fund as on 31st March 2016 RO 2,800,510 Net liability as per actuary's valuation RO 5.770.800 Balance of Life Insurance Fund as on 31st March 2017 was R010,860,000 The following information also relate to the current period 31st March 2017: 13 Continuation problem 3 a) an interim bonus paid during the period RO 125,500 b) Dividend still unpaid for the 31st March 2016 was RO 120,000 c) Surplus brought forward from the period 2015 was RO 90,000 d) The company also wishes to maintain a surplus for the period 2017 is RO 45,000 You are required to prepare: 1 The valuation balance sheet as on 31.03.2017 2. The net profit for the valuation period. 14 Problem 3: The following particulars relate to Imaginary Life Insurance Company as on 31st March 2017 Balance of Life Insurance Fund as on 31st March 2016 RO 2,800,510 Net liability as per actuary's valuation RO 5.770.800 Balance of Life Insurance Fund as on 31st March 2017 was R010,860,000 The following information also relate to the current period 31st March 2017: 13 Continuation problem 3 a) an interim bonus paid during the period RO 125,500 b) Dividend still unpaid for the 31st March 2016 was RO 120,000 c) Surplus brought forward from the period 2015 was RO 90,000 d) The company also wishes to maintain a surplus for the period 2017 is RO 45,000 You are required to prepare: 1 The valuation balance sheet as on 31.03.2017 2. The net profit for the valuation period. 14