My question involves criminal law for the state of: Michigan.

I went into my local K-Mart with a friend to buy him a starter skateboard. The one he wanted was around $65 so we decided to switch tags with a $30 board. He paid his $32 (appx.) and walked to the door. I was able to leave but they grabbed him by the arm and told him to "come here." Anyway, I went back inside to find him and he was in the Loss Protection room. They had been waiting for me, the apparent "fat friend," or so I was called. They took our driver's licenses, addresses, phone numbers, and everything. Probably standard procedure. They then refunded my friend's money along with a return receipt. The police were never called and no one else was involved. FIRST OFFENSE for both of us.

Now, here's my question.

Right before we were let out, he mentioned that the K-Mart attorney/lawyer would send us something in the mail within 2 to 3 weeks and that we would have to pay 10 times the cost of the product we "stole." Would that mean the $65 board we tried to get away with? The $30 dollar board we actually paid for? Or the difference between the two?

And also, since no police were involved and it was such a small amount, will this go on our records? Or will it go away?

Thank you so much for any help that you can give us.
We really appreciate it.