XYZ Insurance Company reported the following information on its accounting statements last year:

Premiums Written $80,000,000

Loss Adjustment Expenses $5,000,000

Underwriting Expenses $12,000,000

Premiums Earned $50,000,000

Incurred Losses $35,000,000

Net Investment Income - $5,000,000 (loss of 5 million)

1.What was XYZ's expense ratio last year?

2.What was XYZ's loss ratio last year?

3.What was XYZ's combined ratio last year?

4.What was XYZ's investment ratio last year?

5.What was XYZ's overall ratio last year?

6.Please select the correct statement below

Group of answer choices

XYZ reported a loss last year.

XYZ lost money on their underwriting activities last year.

If the tax rate is 20% then XYZ paid 1,000,000 in taxes last year.

XYZ gains from underwriting activities were larger than the investment loss.