Wolverine World Wide, Inc., manufactures military, work, sport, and casual footwear and leather accessories under a variety of brand names, such as Hush Puppies, Wolverine, Merrell, Stride Rite, and Bates, to a global market. The following transactions occurred during a recent year. Dollars are in thousands.
A. Issued common stock to investors for $14,084 cash (example).
B. Purchased $872,418 of additional inventory on account.
C. Borrowed $11,700.
D. Sold $1,346,068 of products to customers on account; cost of the products sold was $750,547.
E. Paid cash dividends of $21,258.
F. Purchased for cash $25,726 in additional property, plant, and equipment.
G. Incurred $345,584 in selling expenses, paying three-fourths in cash and owing the rest on account.
H. Earned $1,772 interest on investments, receiving 90 percent in cash.
I. Incurred $2,990 in interest expense to be paid at the beginning of next year.