5.) Segment reporting Finney Company's condensed income statement is presented below Revenues Expenses $900,000 Cost of goods sold Operating and administrative expenses Depreciation expense $400,000 200,000 40,000 Income before taxes Income tax expenses Net income 640.000 260,000 78,000 $182.000 S182 Earnings per share (100,000 shares) The following data is compiled relative to Finney's operating segments Percent Identified with Segment Grains Hotels Candy Revenues Cost of goods sold Operating and administrative expense Depreciation expense 42% 48 35 46 50% 49 50 42 5% 12 Included in the amounts allocated to each segment on the above percentages are the following expenses which relate to general corporate activities Operating Seament Hotels $12,000 3,500 $9,000Totals 10,000 Cand $3,000 $24,000 Grains Operating and administrative expense Depreciation expense 4,000 2,500 Instructions (a) Prepare a schedule showing the amounts distributed to each segment. (b) Based only on the above information, which segments must be reported and why