Plastics Inc. is a company that operates in four different divisions. The following information relating to each segment is available for 2013.
Sales revenue Cost of goods sold Operating expenses
- Bottles $ 65,000 $ 26,000 $8,000
- Containers $ 95,000 $ 62,000 $ 48,000
- Dollhouses $ 620,000 $ 353,000 $140,000
- Silverware $18,000 $ 8,000 $ 6,500
Sales of segments Containers and Dollhouses included intersegment sales of $30,000 and $150,000, respectively.
Required
- Determine which of the segments are reportable based on the following:
- Revenue Test
- Operating profit (loss) test
- Identifiable assets test