FLAIR Inc. is a medical organization incorporated in 2014. It is a partnership organization who shared their profits and losses in 2:2:1. They decided to take 1 more partner in the firm from 1 July for 1/4th share in the future profits. Goodwill is valued at 2 times the average annual profit for the past 5 years. Year 2018 2019 2020 2021 2022 Requirement: 1. Find the Total Profit. Amount 100,000 3. Calculate the Goodwill. 60,000 72,500 Find the Goodwill of FLAIR Inc. using Average Profit Method. 80,000 85,900 2. Find the Average Profit of the Company.