Question
Ansfield, Inc. has several potentially reportable segments. The following financial information has been determined for the current fiscal year: Consolidated net income $ 1,000,000 Operating
Ansfield, Inc. has several potentially reportable segments. The following financial information has been determined for the current fiscal year: Consolidated net income $ 1,000,000 Operating income before taxes 1,500,000 Net operating income of all segments 1,350,000 Total consolidated revenue 8,000,000 Total revenue of all segments, excluding intersegment sales 7,000,000 Total intersegment sales 1,200,000 Consolidated total assets 50,000,000 Total assets of all segments 45,000,000 The minimum amount of revenues a segment must have to qualify as reportable is ____. Select one: a. $700,000 b. $800,000 c. $820,000 d. The answer cannot be determined from the information given.
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