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; 37 million shares authorized; 32 million shares issued and 27 million shares outstanding at 12/31/2018; and shares issued and outstanding at 12/31/2017. $ 160 million $ 135 million additional paid-in capital on common stock 524 million 400 million retained earnings 191 million 161 million treasury common stock, at cost, 5 million shares at 12/31/2018 and 3 million shares at 12/31/2017 (66 million) (44 million) total shareholders’ equity $ 809 million $ 652 million what was the average price (rounded to the nearest dollar) of the additional shares issued by levi in 2018?

Powell company began the 2018 accounting period with $40,000 cash, $86,000 inventory, $60,000 common stock, and $66,000 retained earnings. during 2018, powell experienced the following events: sold merchandise costing $58,000 for $99,500 on account to prentise furniture store. delivered the goods to prentise under terms fob destination. freight costs were $900 cash. received returned goods from prentise. the goods cost powell $4,000 and were sold to prentise for $5,900. granted prentise a $3,000 allowance for damaged goods that prentise agreed to keep. collected partial payment of $81,000 cash from accounts receivable. required record the events in a statements model shown below. prepare an income statement, a balance sheet, and a statement of cash flows. why would prentise agree to keep the damaged goods?