Balance Sheet of J and K who share profits in the ratio of 3 : 2 is as follows: BALANCE SHEET as at 31st March, 2018 Liabilities ₹ Assets ₹ Reserve 1,00,000 Cash 2,00,000 J's Capital 1,50,000 Other Assets 1,50,000 K's Capital 1,00,000 2,50,000 3,50,000 3,50,000 M joins the firm from 1st April, 2018 for a half share in the future profits . He is to pay ₹ 1,00,000 for goodwill and ₹ 3,00,000 for capital. Draft the journal entries and prepare Balance Sheet in each of the following cases:(a) If M acquires his share of profit from the firm in the profit -sharing ratios of the partners.(b) If M acquires his share of profits from the firm in equal proportions from the original partners .(c) If M acquires his share of profit in the ratio of 3 : 1 from the original partners, ascertain the future profit-sharing ratio of the partners in each case.