Question

Problem 24-02 Pina Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to each segment is available for 2021. A B C D E Sales revenue $39,600 $76,100 $573,000 $34,400 $56,100 Cost of goods sold 18,800 50,200 270,400 18,600 30,300 Operating expenses 9,800 40,500 237,400 11,800 18,000     Total expenses 28,600 90,700 507,800 30,400 48,300 Operating profit (loss) $11,000 $(14,600) $65,200 $4,000 $7,800 Identifiable assets $34,400 $78,500 $494,800 $64,600 $49,900 Sales of segments B and C included intersegment sales of $20,400 and $101,000, respectively.

Determine which of the segments are reportable based on the: Reportable Segment (1) Revenue test. ABCDEA and BA and CA and DA, B and CB and CB and EB, D and E (2) Operating profit (loss) test. ABCDEA and BA and CA and DA, B and CB and CB and EB, D and E (3) Identifiable assets test. ABCDEA and BA and CA and DA, B and CB and CB and EB, D and E LINK TO TEXT

Prepare the necessary disclosures required by GAAP. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) A B C Other Totals External Revenues $ $ $ $ $ Intersegment Revenues Total Revenues $ Cost of Goods Sold Operating Expenses Total Expenses Operating Profit (Loss) $ $ $ $ $ Identifiable Assets $ $ $ $ $ Click if you would like to Show Work for this question: Open Show Work

Answer 1