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The following partial information is taken from the comparative balance sheet of Levison Corporation: 12/31/2018 12/31/2017 Shareholders equity Common stock, $5 par; 34 million shares authorized; 29 million shares issued and 25 million shares outstanding at 12/31/2018; and million shares issued and shares outstanding at $ 145million 125million 393million 158million 12/31/2017. Additional paid-in capital on common stock Retained earnings Treasury common stock, at cost, 4 million shares at 12/31/2018 and 2 million shares at 12/31/2017 Total shareholders equity 521million 194million (69million) $ 791million (47million) 629million How many of Levisons common shares were outstanding on 12/31/2017? 25 million. O 30 million. O None of these answer choices are correct. 23 million.

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Answer #1

Outstanding common share on december 31,2017 = Issued share-Treasury shares

= (125/5)-2

Outstanding common share on december 31.2017 = 23 million

So answer is d) 23 Million

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