Three Chartered Accountants X, Y and Z form a partnership sharing profits and losses in the ratio of 3: 2:1 subject to the following conditions: (1) Z's share of profits is guaranteed to be not less than Rs.30,000 p.a. (ii) Y gives a guarantee to the effect that the gross fee earned by him for the firm shall not be less than the average gross fee earned by him during the preceding five years when he was carrying on the profession alone (the average ofwhich works out at Rs.50,000). Profit for the first year (year ended 31st March, 2018) of the partnership is Rs.1,50,000. The gross fee earned by Y for the firm is Rs.32,000. Prepare Profit and Loss Appropriation Account after giving effect to the above.