The following partial information is taken from the comparative balance sheet of levi corporation:
shareholders’ equity 12/31/2018 12/31/2017
common stock, $5 par; 20 million shares authorized; 15 million shares issued
and 9 million shares outstanding at 12/31/2018; and million shares issued
and shares outstanding at 12/31/2017. $ 75 million $ 45 million
additional paid-in capital on common stock 520 million 392 million
retained earnings 197 million 157 million
treasury common stock, at cost, 6 million shares at 12/31/2018 and 4 million
shares at 12/31/2017 (72 million) (50 million)
total shareholders’ equity $ 720 million $ 544 million
1. a. how many of levi's common shares were outstanding on 12/31/2017?
a. 14 million.
b. 9 million.
c. 5 million.
d. none of these answer choices are correct.