Petersen Ltd operates solely within Queensland. It is involved in four operating segments, namely entertainment, clothing, food and agriculture. Information pertaining to these segments is provided below.

Additional information

a. Income tax expense for the year is $40 000.

b. There are no investments in associates.

c. Across the entire entity there was only one customer that accounted for 10 percent or more of the entity’s total revenues. This customer  accounted for revenue totalling $100 000 and made its purchases from the entertainment

d. operating segment.

REQUIRED

Determine the reportable segments of Petersen Ltd, and prepare the appropriate segment disclosure note in accordance with AASB 8.

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Sales to outside customers ($000) Inter-segment sales ($000) Total sales ($000) Entertainment 600 650 Clothing 80 80 Food 200 50 980 200 Agriculture 40 Total 920 Clothing Food Profit (loss) before income tax by operating segment $000 100 Entertainment 20 Agriculture General corporate expenses Total Identifiable assets by operating segment $000 Entertainment 800 300 100 50 Clothing Food 10 60 (10) 20 (10) 120