The ledger account for the long term investments of Fresh Company showed a balance of Php 155,000 as of

December 31, 2017. An analysis of the account showed the following details:

Common treasury stock Bacolod Airport Co.,

200 shares bought at Php 100 per share Php 20,000

Common stock of Asean Co., a 90% subsidiary 20,000

100 SMC bonds (par value 1,000) bought on May 1, 2015,

Retireable on May 1, 2027, interest at 18% payable

Semi-annually on May 1 and November 1 of each year.

The company holds this security for the income to be

Derived therefrom. Purchase price, Php 115 115,000

7. How much is the correct balance of the permanent investment account as at December 31, 2017?