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The position of a businessman on 30th June 1994 was as follows :
Cash ₹ 5,000; Debtors ₹ 20,000; Machinery ₹ 60,000; Stock ₹ 25,000; Capital ₹ 75,000. Calculate his liabilities.
A commenced his cloth business on $1^{\text {st }}$ April, $2018$ with a capital of $₹ 30,000$. On $31^{\text {st }}$ March $2019$ , his assets were worth $₹ 50,000$ and liabilities of $₹ 10,000$. Find out his closing capital and profits earned during the year.