ces Wolverine World Wide, Incorporated, designs, markets, and licenses casual, industrial, performance outdoor, and athletic footwear and apparel under a variety of brand names, such as Hush Puppies, Wolverine, Merrell, Sperry, and Saucony, to a global market. The following transactions occurred during a recent year. Dollars are in millions a. Issued common stock to investors for $16.4 cash (example). b. Purchased $1,6816 of additional inventory on account c. Paid $55.1 on long-term debt principal and $4.6 in interest on the debt. d. Sold $2,309 of products to customers on account. e. Cost of the products sold was $1,433.6 1. Paid cash dividends of $34 to shareholders g. Purchased for cash $32.4 in additional property, plant, and equipment. h. Incurred $706 6 in selling expenses, paying three-fourths in cash and owing the rest on account Earned $0 5 of interest on investments, receiving 80 percent in cash J. Incurred $27 in interest expense to be paid at the beginning of next year Required: For each of the transactions, complete the tabulation, indicating the effect (positive value for increase, negative value for decrease. and leave blank if no effect) of each transaction. (Remember that Assets Liabilities + Stockholders' Equity, Revenues - Expenses - Net Income; and Net Income affects Stockholders' Equity through Retained Earnings.) The first transaction is provided as an example Note: Enter the increasing and decreasing effect of the transection on separate lines in the table. Do not net the effects on Assets, Stockholders' Equity or Net Income. Enter your answers in millions rather than in dollars (for example, 22.4 million should be entered as 22.4 rather then 22,400,000). Balance Sheet Income Statement Transaction Assets Liabilities Stockholders' Equity Revenues Expenses Net Income a 16.40 16.40 b. C d 1 O 9 h 1