The following partial information is taken from the comparative balance sheet of Levi Corporation:Shareholders’ equity12/31/202412/31/2023Common stock, $5 par; 23 million shares authorized; 18 million shares issued and 15 million shares outstanding at 12/31/2024; and _____________blank million shares issued and _____________blank shares outstanding at 12/31/2023.$ 90million$ 75millionAdditional paid-in capital on common stock523million395millionRetained earnings200million160millionTreasury common stock, at cost, 3 million shares at 12/31/2024 and 1 million shares at 12/31/2023(75million)(53million)Total shareholders’ equity$ 738million$ 577millionHow many of Levi's common shares were outstanding on 12/31/2023?

Shareholders equity is section of balance sheet which includes issued and outstanding shares,…

Answered: following partial information is taken…

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The following partial information is taken from the comparative balance sheet of Levi Corporation:

Shareholders’ equity	12/31/2024	12/31/2023
Common stock, $5 par; 23 million shares authorized; 18 million shares issued and 15 million shares outstanding at 12/31/2024; and _____________blank million shares issued and _____________blank shares outstanding at 12/31/2023.	$ 90	million	$ 75	million
Additional paid-in capital on common stock	523	million	395	million
Retained earnings	200	million	160	million
Treasury common stock, at cost, 3 million shares at 12/31/2024 and 1 million shares at 12/31/2023	(75	million)	(53	million)
Total shareholders’ equity	$ 738	million	$ 577	million