Instruction: All the solutions must be completed by the Microsoft Excel program and all the calculations should be performed by excel functions. All the solutions will be in a single excel file in separate sheets. A hand-written pdf copy is also necessary to submit along with the excel file.

The following is the Balance Sheet of Mr.X as on 31.12.2016 : The following were the net profits for the year ended : 2014:32,280;2015;36,870;2016;43,350. The above amounts include income from investment, 1,800 each year. You are required to value the Goodwill of the above business at 2 years' purchase of the average super profit for 3 years, taking into account the fact that the standard rate of return on capital employed in such type of business is 10% and assuming that each year's profit is immediately withdrawn in full by Mr. X