I would like help with these questions I have attached below. This class is intermediate accounting 4. The questions are due today ov, 21, 2015 before 11pm

Essay 1 It is not unusual to issue long term debt in conjunction with an arrangement under which lenders receive an option to buy common stock during all or portion of the time the debt is outstanding. Sometimes the vehicle is convertible bonds. Sometimes warrants to buy stock is accompany the bonds and are separable. Interstate Chemical is considering these options in conjunction with a planned debt issue. \"You mean we have to report 7 million more in liabilities if we go with convertible bonds? Make no sense to me\The 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 What was the average price of the additional treasury shares purchased by Levi during 2016? A. $11 per share. B. $12 per share. C. $12.50 per share. D. None of these answer choices is correct. 10. The 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 What was the amount of net income earned by Levi during 2016? A. $0. B. $40 million. C. $62 million. D. Cannot be determined from the given information. The 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 What was the average price of the additional treasury shares purchased by Levi during 2016? A. $11 per share. B. $12 per share. C. $12.50 per share. D. None of these answer choices is correct. 10. The 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 What was the amount of net income earned by Levi during 2016? A. $0. B. $40 million. C. $62 million. D. Cannot be determined from the given information