Lancers Inc. is involved in five separate industries. The following information is available for each of the five industry segments.
Operating Segment Total Revenue Operating Profit (Loss) Identifiable Assets
A $140,000 $25,000 $240,000
B 40,000 8,000 11,000
C 26,000 (5,000) 36,000
D 190,000 (2,000) 49,000
E 2,000 500 15,000
$398,000 $26,500 $361,000
Instructions
Determine which of the operating segments are reportable based on the:
(a) Revenue test.
(b) Operating profit (loss) test.
(c) Identifiable assets test.
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