Question 5 [25 marks] a) On January 1, 2015 Philips Corporation purchased 60% (15,000 shares) of Henry Corporation for $300,000. The stockholders' equity section of Henry Corporation (Henry Inc.) was as follows: Henry Inc. Common stock $10 par value $250,000 Additional paid in capital 175,000 Retained earnings 75,000 Total stockholders' equity $500,000 Henry Inc. Retained earnings at subsequent year ends were as follows Henry Inc. Retained earnings December 31, 2015 $115,000 Retained earnings December 31, 2016 $165,000 Retained earnings December 31, 2017 $200,000 Henry Inc. issued 15,000 additional shares of common stock directly to Philips Corporation on January 1, 2018 at $35 per share. Required: i. Compute the balance in Philip's Investment in Henry account on January 1. 2018 after its purchase of the additional shares. [7 marks] Compute the value of the NCI the would appear on the consolidated balance sheet as at January 1, 2018 [3 marks]