Problem $4\mathrm{.}4.$ Analyzing Gross Profit Percentage on the Basis of an Income Statement and Within$-$Industry Comparison.

Wolverine World Wide Inc. prides itself as being the "world's leading marketer of U$.$S$.$ branded non$-$athletic footwear." It competes in many markets with Deckers, often offering products at a lower price point. Its brands include Wolverine, Bates, Sebago, and Hush Puppies. The following data were taken from its recent annual report $($dollars in thousands$)$:

$\backslash$table$[[$Sales of merchandise,$$1,141,887$