On 1st April 2018 a firm had assets of 1 00 000 excluding stock of 20 000 The current liabilities we......

On 1st April, 2018, a firm had assets of 1,00,000 excluding stock of 20,000. The current liabilities were 10,000 and the balance constituted Partners' Capital Accounts. If the normal rate of return is 8%, the Goodwill of the firm is valued of 60,000 at four years' purchase of super profit, find the actual profits of the firm.

By: NIHARIKA WALIA