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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; 20 million shares
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; 20 million shares authorized; 15 million shares issued and 9 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, 6 million shares at 12/31/2021 and 4 million shares at 12/31/2020 Total shareholders' equity $ 75 million 520 million 197 million $ 45 million 392 million 157 million (72 million) $720 million (50 million) $544 million What was the amount of Levi's net income for the year 2021? Multiple Choice $40 million
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