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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.

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