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 12/31/2021 12/31/2020 Common stock, $5 par; 21 million shares
The following partial information is taken from the comparative balance sheet of Levi Corporation:
Shareholders equity | 12/31/2021 | 12/31/2020 | ||||||
Common stock, $5 par; 21 million shares authorized; 16 million shares issued and 11 million shares outstanding at 12/31/2021; and ____million shares issued and ____shares outstanding at 12/31/2020. | $ | 80 | million | $ | 55 | million | ||
Additional paid-in capital on common stock | 521 | million | 397 | million | ||||
Retained earnings | 198 | million | 158 | million | ||||
Treasury common stock, at cost, 5 million shares at 12/31/2021 and 3 million shares at 12/31/2020 | (73 | million) | (51 | million) | ||||
Total shareholders equity | $ | 726 | million | $ | 559 | million | ||
What was the average price (rounded to the nearest dollar) of the additional shares issued by Levi in 2021?
Multiple Choice
-
Cannot be determined from the given information.
-
$5 per share.
-
$30 per share.
-
$43 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