Choose the correct option for converting the statement given below in to the Indirect Speech: It is believed that the company lost a lot of money last year

The company is believed to have lost a lot of money last year The company believes to have lost a lot of money last year The company is believed to have had lost a lot of money last year The company is believed to having lost a lot of money last year

The company is believed to have lost a lot of money last year

The correct answer is Option (1) → The company is believed to have lost a lot of money last year