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; 40 million shares authorized; 35 million shares issued and 31 million shares outstanding at 12/31/2021; $ and million shares issued and shares outstanding at 12/31/2020. Additional paid-in capital on common stock Retained earnings Treasury common stock, at cost, 4 million shares at 12/31/2021 and 3 million shares at 12/31/2020 Total shareholders' equity $ What was the amount of Levi's net income for the year 2021? Multiple Choice $0. Cannot be determined from the given information. $73 million. $120 million. 175 million 527 237 million million (80 million) 810 million $ 155 million 401 million 164 million (33 million) $ 687 million
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; 40 million shares authorized; 35 million shares issued and 31 million shares outstanding at 12/31/2021; $ and million shares issued and shares outstanding at 12/31/2020. Additional paid-in capital on common stock Retained earnings Treasury common stock, at cost, 4 million shares at 12/31/2021 and 3 million shares at 12/31/2020 Total shareholders' equity $ What was the amount of Levi's net income for the year 2021? Multiple Choice $0. Cannot be determined from the given information. $73 million. $120 million. 175 million 527 237 million million (80 million) 810 million $ 155 million 401 million 164 million (33 million) $ 687 million
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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; 40 million shares
authorized; 35 million shares issued
and 31 million shares outstanding at 12/31/2021; $
and
__million shares issued
and
_shares outstanding at 12/31/2020.
Additional paid-in capital on common stock
Retained earnings
Treasury common stock, at cost, 4 million
shares at 12/31/2021 and 3 million
shares at 12/31/2020
Total shareholders' equity
$
What was the amount of Levi's net income for the year 2021?
Multiple Choice
$0.
Cannot be determined from the given information.
$73 million.
$120 million.
175 million
527 million
237
million
(80 million)
810 million
$ 155 million
401 million
164 million
(33 million)
$687 million
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