The following partial information is taken from the comparative balance sheet of Levi Corporation: ...
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Accounting
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; 24 million shares authorized; 19 million shares issued and 14 million shares outstanding at 12/31/2021; and ____ million shares issued and ____ shares outstanding at 12/31/2020.
$
95
million
$
70
million
Additional paid-in capital on common stock
524
million
394
million
Retained earnings
205
million
161
million
Treasury common stock, at cost, 5 million shares at 12/31/2021 and 2 million shares at 12/31/2020
(74
million)
(41
million)
Total shareholders equity
$
746
million
$
584
million
What was the amount of Levis net income for the year 2021?
Multiple Choice
$77 million.
$0.
$44 million.
Cannot be determined from the given information.
Answer & Explanation
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