The following partial information is taken from the comparative balance sheet of Levi Corporation: Shareholders’ equity12/31/2021 12/31/2020 Common stock, $5 par; 34 million shares authorized; 29 million shares issuedand 25 million shares outstanding at 12/31/2021; and ____million sharesissued and ____shares outstanding at 12/31/2020.$145million $125million Additional paid-in capital on common stock 521million 392million Retained earnings 194million 158million Treasury common stock, at cost, 4 million shares at 12/31/2021 and 2 millionshares at 12/31/2020 (69million) (47million) Total shareholders’ equity$791million $628million What was the average price (rounded to the nearest dollar) of the additional shares issued by Levi in 2021?

Average Price - It is the price at which common stock issued to the shareholder's this includes par…

Answered: The following partial information is…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...

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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; 34 million shares authorized; 29 million shares issued and 25 million shares outstanding at 12/31/2021; and ____million shares issued and ____shares outstanding at 12/31/2020.	$	145	million	$	125	million
Additional paid-in capital on common stock		521	million		392	million
Retained earnings		194	million		158	million
Treasury common stock, at cost, 4 million shares at 12/31/2021 and 2 million shares at 12/31/2020		(69	million)		(47	million)
Total shareholders’ equity	$	791	million	$	628	million

What was the average price (rounded to the nearest dollar) of the additional shares issued by Levi in 2021?

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