Question 4: Assume during this pandemic COVID-19 situation, your Life Insurance General Manager of the company has given some imperative data to you through email in order to prepare the profit and loss statement by considering the following facts: (7.5 Marks) a) The life fund of a Life Insurance Company was estimated OMR 8,64,800 as on 31st December 2019. b) The interim bonus paid earlier was OMR 14,800. c) The net liability assessed was OMR 7,42,500. d) Actuarial expenses brought forward from the previous valuation was OMR 85,000. e) Rent and salaries paid were OMR 6,650. f) Electricity bill amounted to OMR 150. g) Paid party expenses for Radisson Blue Hotel OMR 1350. h) Antique Insurance was estimated OMR 10,000. Calculate the profit or loss incurred by life insurance company by responding to your General Manager's task