The following partial information is taken from the comparative balance sheet of
ID: 2463858 • Letter: T
Question
The following partial information is taken from the comparative balance sheet of Levi Corporation: Shareholders’ equity 12/31/2013 12/31/2012 Common stock, $5 par value; 27 million shares authorized; 22 million shares issued and 19 million shares outstanding at 12/31/2013; and ____million shares issued and ____shares outstanding at 12/31/2012. $110 million $95 million Additional paid-in capital on common stock 527 million 399 million Retained earnings 204 million 164 million Treasury common stock, at cost, 3 million shares at 12/31/2013 and 1 million shares at 12/31/2012 (79 million) (57 million) Total shareholders’ equity $762 million $601 million
How many of Levi's common shares were outstanding on 12/31/2012?
a- 24 million
b 19 million
c 18 million
d None of these is correct.
Explanation / Answer
Shares Outstanding as on 12/31/2012 19 Million
Less: Shares in Treasury -1 Million
Shares outstanding on 12/31/2012 18 Million
The correct option is C. 18 Million
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.