The following partial information is taken from the comparative balance sheet of Bi Corporation: ...
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Accounting
The following partial information is taken from the comparative balance sheet of Bi Corporation:
Shareholders equity
12/31/2021
12/31/2020
Common stock, $5 par; 22 million shares authorized; 17 million shares issued and 13 million shares outstanding at 12/31/2021; and ____million shares issued and ____shares outstanding at 12/31/2020.
$
85
million
$
65
million
Additional paid-in capital on common stock
522
million
396
million
Retained earnings
199
million
159
million
Treasury common stock, at cost, 4 million shares at 12/31/2021 and 2 million shares at 12/31/2020
(74
million)
(52
million)
Total shareholders equity
$
732
million
$
568
million
What was the average price (rounded to the nearest dollar) of the additional shares issued by Bi in 2021?
Multiple Choice
1. $5 per share.
2. $37 per share.
3. $50 per share.
4. Cannot be determined from the given information.
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