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Profits earned by ABC Ltd . for the preceding three years were: Year Profit s in Rs . 2 0 1 9 1 5 0

Profits earned by ABC Ltd. for the preceding three years were: Year Profits in Rs.
2019150,000
2020144,000
2021156,000
Profits of 2019 have been derived after adjusting Rs.9,000 profit on sale of machinery.
Profits of 2020 were reduced by Rs.15,000 due to an extraordinary loss on account of theft.
Profits of 2021 include Rs.6,000 income on investment.
Salary of proprietor, not yet considered in calculation of profits is to be given Rs.30,000/- p.a.
The stock of raw material was not insured previously.
Now, it is decided to insure the stock of raw material. The insurance premium is estimated to be paid in future at Rs.1,500/p.a. You are required to calculate goodwill on the basis of three years purchase of average of last three years profits and on the basis of weighted average profit method weights 1,2,3 respectively

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