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The balance sheet of FIFA Cup Company Included the following shareholders' equity section at December 31, 2021: ($ in millions) $ 180 Common stock ($1
The balance sheet of FIFA Cup Company Included the following shareholders' equity section at December 31, 2021: ($ in millions) $ 180 Common stock ($1 par, authorized 200 million shares, issued and outstanding 180 million shares) Paid-in capital-excess of par Retained earnings Total shareholders' equity 1,080 560 $1,820 On January 5, 2022, FIFA purchased and retired 2 million shares for $18 million. Immediately after retirement of the shares, the balances in the pald-in capital-excess of par and retained earnings accounts are: b. Paid-in capital-excess of par $1,968 $1,064 $1,080 $1,080 Retained earnings $556 $560 $560 $542 d. Multiple Choice O Option A Option B O Option Option D O The following partial Information is taken from the comparative balance sheet of Levi Corporation: 12/31/2021 12/31/2020 Shareholders' equity Common stock, $5 par; 33 million shares authorized; 28 million shares issued and 23 million shares outstanding at 12/31/2021; and ___million shares issued and shares outstanding at 12/31/2020. Additional paid-in capital on common stock Retained earnings Treasury common stock, at cost, 5 million shares at 12/31/2021 and 3 million shares at 12/31/2020 Total shareholders' equity $140 million 520 million 195 million $115 million 392 million 157 million (70 million) $785 million (48 million) $616 million How many of Levi's common shares were outstanding on 12/31/2020? Multiple Choice 28 million 0 O 23 million. 20 million O None of these answer choices are correct. O Retained earnings represent a company's: Multiple Choice Undistributed net income. Undistributed net assets. O Extra paid-in capital. Undistributed cash. O Accumulated other comprehensive Income is reported: Multiple Choice In the balance sheet as an asset. O O In the balance sheet as a liability In the balance sheet as a component of shareholders' equity. O O In the statement of comprehensive income
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