valuation of goodwill

Victoria Alex (24 Points)

04 August 2018  
(I)profits: 2012-40,000
2013-50,000
2014-60,000
(ii) non-recurring income of ₹4000 is included in the profit of 2013
(iii)profits of 2012 hav been reduced by ₹6000 bcoz goods were destroyed by fire
(iv)goods hav not been insured but it is thought to insure dem in future. The insurance premium is estimated at ₹400 per yr
(v) reasonable remuneration of the proprietor of business is ₹6000 per year but it has not been taken into account for calculation of above mentioned profits
(vi)profits of 2014 include ₹5000 income on investment.
Calculate Goodwill on the basis of 2 years purchase of the average profit of last 3 years.
* please explain me the calculation for net profit*