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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; 21 million shares authorized; 16 million   shares issued and 11 million shares outstanding at 12/31/2012; and   ____million shares issued and ____shares outstanding at 12/31/2013. $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 12/31/2013 and 3   million shares at 12/31/2012

(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 2013?

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  • Category:- Accounting Basics
  • Reference No.:- M9946674

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