From the information given below, find the average profits of the partnership firm of Sudhir and Sana.
(a) The firm has total assets of ₹ 4,80,000. (b) The partners’ capital accounts show a balance of ₹ 4,00,000. (c) The firm has reserves of ₹ 30,000 and creditors of ₹ 50,000. (d) The normal rate of return from the capital invested in the same class of business is 10%. (e) The self-generated goodwill of the firm is valued at ₹ 1,80,000 at 3 years’ purchase of super profits.
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