Question

Merriweather Company, a publicly-held firm, is completing its 10-K report for fiscal 2020. Merriweather considers that it is involved in five separate lines of business.
The following information is available, from which Merriweather must determine which segments are reportable and what that disclosure should look like. use 10% test (what that disclosure should look like?)
Line of business		Total revenue	Operating Profit or (loss)	Identifiable assets
Children's wear		120,000,000	30,000,000	167,000,000
Women's wear		20,000,000	3,000,000	52,000,000
Men's wear		46,000,000	2,000,000	145,000,000
Outerwear		18,000,000	(1,050,000)	45,000,000
Foot wear		22,000,000	(9,600,000)	140,000,000
Total		226,000,000	24,350,000	549,000,000

Answer 1

Line of business		Total revenue	%	Operating Profit or (loss)	%	Identifiable assets	%
Children's wear		120,000,000	53.10%	30,000,000	123.2%	167,000,000	30.42%
Women's wear		20,000,000	8.85%	3,000,000	12.32%	52,000,000	9.47%
Men's wear		46,000,000	20.35%	2,000,000	8.21%	145,000,000	26.41%
Outerwear		18,000,000	7.96%	(1,050,000)	-4.31%	45,000,000	8.20%
Foot wear		22,000,000	9.73%	(9,600,000)	-39.43%	140,000,000	25.50%
Total		226,000,000	100%	24,350,000	100%	549,000,000

For total revenue = Chidren's wear, Men's wear

For operating profit = Children's wear, women's wear and foot wear

For identifiable assets = Chidren's wear, Men's wear and foot war