Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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; 35 million
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; 35 million shares authorized; 30 million shares issued and 24 million shares outstanding at 12/31/2016; and ____million shares issued and ____shares outstanding at 12/31/2015. | $150 million | $120 million |
Additional paid-in capital on common stock | 522 million | 391 million |
Retained earnings | 193 million | 159 million |
Treasury common stock, at cost, 6 million shares at 12/31/2016 and 4 million shares at 12/31/2015 | (84 million) | (32 million) |
Total shareholders equity | $781 million | $638 million |
What was the average price of the additional treasury shares purchased by Levi during 2016? (Round your answer to 2 decimal places.) |
a)$26.00 per share.
b)$8.00 per share.
c)None of these answer choices is correct.
d)$14.00 per share.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started