The following partial information is taken from the comparative balance sheet of
ID: 2498813 • Letter: T
Question
The following partial information is taken from the comparative balance sheet of Levi Corporation:
(68 million)
(46 million)
$797 million
$639 million
What was the average price (rounded to the nearest dollar) of the additional shares issued by Levi in 2016?
Shareholders’ equity 12/31/2016 12/31/2015 Common stock, $5 par value; 35 million shares authorized; 30 million shares issued and 27 million shares outstanding at 12/31/2016; and ____million shares issued and ____shares outstanding at 12/31/2015. $150 million $135 million Additional paid-in capital on common stock 522 million 391 million Retained earnings 193 million 159 million Treasury common stock, at cost, 3 million shares at 12/31/2016 and 1 million shares at 12/31/2015(68 million)
(46 million)
Total shareholders’ equity$797 million
$639 million
Explanation / Answer
30 million shares issued and 27 million shares outstanding at 12/31/2016;
__27__million shares issued and _26_shares outstanding at 12/31/2015.
Additional share issued = 3 Million share
Average price of the additional shares issued by Levi in 2016 = (5 + 522 million /3million) = 179
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.