Bennett Inc. is a publicly held corporation whose diversified operations have been separated into five industry segments. Bennett is in the process of preparing its annual financial statements for the year ended December 31,20X5. The following information has been collected for the preparation of the segment reports required by FASB 131.

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a. Determine which of the operating segments are reportable segments for Bennett Inc. Your determination should include all required tests and the results of those tests for each of the five segments of Bennett.

b. The reportable segments determined above must represent a substantial portion of Bennett Inc.'s total operations when taken together. Describe how to determine whether a substantial portion of Bennett's operations are explained by its segment information.

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Item Sales to Unaffiliated Bennett Inc. Selected Data For the Year Ended December 31, 20X5 (in thousands) Power Fastening Tools Systems Household Plumbing Security Products Products Systems Customers $32,000 $ 4.500 $ 4,800 $3,000 $2,000 Intersegment Sales 10.000 5.500 200 1.000 Total Revenue 42,000 10,000 5.000 4,000 2,000 Cost of Goods Sold 30,000 8.000 4,500 3,100 1,700 Operating Profit 4,500 1,000 (600) 700 (100) Net Income 2,600 800 (750) (100) (200) Identifiable Assets 50,000 23.000 17,000 6.000 4,000