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he following partial information is taken from the comparative balance sheet of Levi Corporation: Shareholders equity 12/31/2016 12/31/2015 Common stock, $5 par value; 20 million
he following partial information is taken from the comparative balance sheet of Levi Corporation:
Shareholders equity | 12/31/2016 | 12/31/2015 |
Common stock, $5 par value; 20 million shares authorized; 15 million shares issued and 9 million shares outstanding at 12/31/2016; and ____million shares issued and ____shares outstanding at 12/31/2015. | $75 million | $45 million |
Additional paid-in capital on common stock | 520 million | 392 million |
Retained earnings | 197 million | 157 million |
Treasury common stock, at cost, 6 million shares at 12/31/2016 and 4 million shares at 12/31/2015 | (72 million) | (50 million) |
Total shareholders equity | $720 million | $544 million |
How many of Levi's common shares were outstanding on 12/31/2015? |
14 million.
9 million.
5 million.
None of these answer choices is correct.
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