The following partial information is taken from the comparative balance sheet of Levi Corporation: Shareholders...
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Accounting
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; 20 million shares authorized; 15 million shares issued and 9 million shares outstanding at 12/31/2016; and ____ million shares issued and ____ shares outstanding at 12/31/2015. $75 million $45 million Additional paid-in capital on common stock 520 million 392 million Retained earnings 197 million 157 million Treasury common stock, at cost, 6 million shares at 12/31/2016 and 4 million shares at 12/31/2015 (72 million) (50 million) Total shareholders equity $720 million $544 million What was the average price of the additional treasury shares purchased by Levi during 2016?
$11 per share.
$12 per share.
$12.50 per share.
None of these answer choices is correct.
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