Question
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; 29 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; 29 million shares authorized; 24 million shares issued and 19 million shares outstanding at 12/31/2016; and ____million shares issued and ____shares outstanding at 12/31/2015. | $120 million | $95 million |
Additional paid-in capital on common stock | 529 million | 393 million |
Retained earnings | 206 million | 166 million |
Treasury common stock, at cost, 5 million shares at 12/31/2016 and 3 million shares at 12/31/2015 | (81 million) | (59 million) |
Total shareholders equity | $774 million | $595 million |
What was the average price (rounded to the nearest dollar) of the additional shares issued by Levi in 2016? |
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