Original Practice Exam #14
In the solution for this problem, Surplus Paid In is used as the Surplus figure in IRIS formulas. Is this intended? I was confused since there's a separate Surplus line item that I was using, but since it's 0 for CY-1 I couldn't calculate any ratios involving prior year's surplus.
Comments
The labels for "Surplus" and "Surplus Paid In" were reversed. I've corrected it. Thx.