A and B are partners sharing profits equally. They admit C into partnership for equal share with a guaranteed profit of ₹20000 per year. The books of the firm revealed following information-
Profits of the last 4 years is:
2016- ₹70000
2017- ₹100000
2018- ₹55000 (loss)
2019- ₹145000

If firm had incurred abnormal loss of ₹35000 for the year 2017, then what will be the net profit for particular year for calculating goodwill?

₹135000

Abnormal loss is added back to find out net Profit of 2017=₹100000
Abnormal loss = ₹35000
Net profit= 100000+35000= ₹135000