Assume the following is the stockholders' equity section from Altria's 2016 balance sheet.December 31 ($ millions)2016$ 935Common stock, par value $0.33 1/3 per share (2,805,961,317 shares issued)....Additional paid-in capital.Earnings reinvested in the businessAccumulated other comprehensive losses (including currency translation of$1,317 in 2016).6,06154,666Cost of repurchased stock (721,696,918 shares in 2016),Total stockholders' equity..(1,853)(24.102)$35,707At what average price has Altria issued its common stock?a. $ 2.49b. $ 0.33c. $12.73d. $33.40

The average price at which each share was issued needs to be computed.

Answered: Assume the following is the…

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

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Chapter1: Financial Statements And Business Decisions

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