Question: (a) Given below are the extracts from the Balance Sheet of BHARAT & SHEENA Ltd. as at 31st March, 2022: Additional Information: (i) Profits after

(a) Given below are the extracts from the Balance Sheet of

(a) Given below are the extracts from the Balance Sheet of BHARAT \& SHEENA Ltd. as at 31st March, 2022: Additional Information: (i) Profits after tax @ 40\%:2019-2020: 24,00,000, 2020-2021: 36,00,000, 2021-2022: 30,00,000. (ii) Trade Investments are to be valued at 150% of Face Value (i.e. 16,00,000 ): (iii) 60% Debentures are to be redeemed prior to valuation of Shares. (iv) Rate of Income Tax - 30\% with effect from 1st April, 2022. (v) Normal Rate of Return on net assets for equity shareholders is 10%. (vi) Goodwill is to be valued at 3 years' purchase of Super Profits

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