Apple Ine., a publicly owned corporation, is subject to the requirements of the Securities and Exchange Commission. In its income statement for the year ended December Year 1. Apple reported revenues of S50,000,000,Joperating expenses of S47,000,000, and net income of S3,000,000. Operating expenses include payroll costs of S15,000,000. Apple's combined identifiable assets for all of its industry segments at December 31, Year I were S40,000,000.

In its Year 1 financial statements, Apple should disclose major customer data if sales to any sales to any single customer amount to at least,