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The following partial information is taken from the comparative balance sheet of Levi Corporation: Shareholders equity 12/31/2018 12/31/2017 Common stock, $5 par; 21 million shares
The following partial information is taken from the comparative balance sheet of Levi Corporation:
Shareholders equity | 12/31/2018 | 12/31/2017 | ||||||
Common stock, $5 par; 21 million shares authorized; 16 million shares issued and 11 million shares outstanding at 12/31/2018; and ____million shares issued and ____shares outstanding at 12/31/2017. | $ | 80 | million | $ | 55 | million | ||
Additional paid-in capital on common stock | 521 | million | 393 | million | ||||
Retained earnings | 198 | million | 158 | million | ||||
Treasury common stock, at cost, 5 million shares at 12/31/2018 and 3 million shares at 12/31/2017 | (73 | million) | (51 | million) | ||||
Total shareholders equity | $ | 726 | million | $ | 555 | million | ||
How many of Levi's common shares were outstanding on 12/31/2017?
Multiple Choice
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16 million.
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None of these answer choices are correct.
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11 million.
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8 million.
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