EXAMPLE: TIME BASIS Ram, Rahim and Robert carry on business sharing the profits in the ratio of 1/2: 1/3: 1/6 respectively. Capitals as on 31 -3-2006 are Ram R.O 20,000, Rahim R.O 15,000 and Robert R.O 10,000. On 30-6-2006 Robert died and his executors claim the profit. Calculate Robert's share of profits till the date of death on the basis of average profits of the preceding 3 years. The annual profit or loss figures of preceding five years were: 2001-2002 12,000 2002-2003 9,000 2003-2004 6,000 (loss) 2004-2005 18,000 2005-2006 9,000