Following is the Balance Sheet of Bharat Lamp Ltd. as at 31st December, 2015:(a) The Land and Building is valued at ₹ 14,40,000 and the Plant and Machinery at ₹ 7,20,000.
(b) Out of the Trade Debtors, Debtors worth ₹ 36,000 are considered bad.
(c) The goodwill of the company is considered worth ₹ 10,80,000. All other assets were taken at their book values.
The profits of the company were as follows :

2013 ---- ₹ 4,80,000;

2014 ---- ₹ 5,40,000;

2015 ---- ₹ 6,36,000.
You are to ascertain the value of the shares of the company on the "Net Assets Basis" and the "Yield Basis", considering the following points :
(i) The company is in the practice of transferring 25% of the profits to the General Reserve; and
(ii) Similar companies pay dividends @10% on the market value of the equity share. Ignore taxation.

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Balance Sheet of Bharat Lamp Ltd. as at 31st December, 2015 Note No. (2) I. EQUITY AND LIABILITIES (1) Shareholders' Funds: (a) Share Capital -1,20,000 Equity Shares of 10 each fully paid (b) Reserves and Surplus - General Reserve TOTAL II. ASSETS (1) Non-current Assets : (a) Fixed Assets Particulars (1) (2) Share Application Money Pending Allotment: (3) Non-current Liabilities: (4) Current Liabilities: Profit and Loss Account (a) Trade Payables ---Trade Creditors (b) Short-term Provisions Provision for Tax (c) Other Current Labilities-Workers Savings Account (i) Tangible Assets: Land and Building Plant and Machinery (ii) Intangible Assets-Patents Amount () (3) 12,00,000 1,20,000 2,40,000 5,40,000 3,60,000 1,80,000 26,40,000 6,60,000 7,80,000 1,,20,000