Year 1 Mr. Lal purchased 1,000 equity shares of 100 each in a X Company @125 each from a stock broker who charged 2% brokerage. At the end of year 1…

Year 1 Mr. Lal purchased 1,000 equity shares of 100 each in a X Company @125 each from a stock broker who charged 2% brokerage. At the end of year 1 the market value of these shares is 1,50,000. He incurred 50 paise per 100 as cost of shares transfer stamps.He also purchased gold for 5,00,000 for holding for long term perspective and by year end its value became - 5,50,000. Year 2 X Company issued bonus shares in the ratio of 1:1. At the end of year 2 market value of 2,000 shares of X Ltd. (including bonus shares) is still - 1,50,000.At the end of year 2, value of gold purchased is 6,50,000Mr. Lal sold the bonus shares for 110 per share during the year. Answer the following questions on the basis of above information: