Can someone please explain the process for this problem as well as the formulas

CPA skills Corcoran Heavy Industries Company (CHIC) is organized into four divisions, each of which operates in a different industry. The types of customer served and the method used to distribute products differ across all four of these industries. In addition, each division must comply with its own unique set of industry regulations related to issues such as safety and recyclability of materials. Operating profit before depreciation and amortization is the measure of profit regularly used by the chief operating decision maker for evaluating the performance of each of these divisions. In addition, information for each division on capital expenditures and depreciation and amortization is routinely pro- vided by corporate headquarters to the chief operating decision maker. A summary of the information provided to the chief operating decision maker at the end of the current year is as follows: Division Automobiles Trucks Total Helicopters $1,411,235 Ships $1,003,809 $4,007,304 644,243 $ 4,651,547 3,480,666 289,589 $ 881,292 $3,796,432 307,982 $ 4,104,414 3,147,086 500,798 $ 1,411,235 1,004,464 57,893 $ 1,003,809 958,743 103,945 $ (58,879) $10,218,780 952,225 $ 11,171,005 8,590,959 952,225 $ 456,530 $ 348,878 $ 1,627,821 ($ in thousands) Sales to outside parties Intersegment sales Total sales. Operating expenses-external Operating expense-internal... Operating profit before depreciation and amortization.... Depreciation and amortization Interest expense Income before tax Income taxes. Profit (loss). Segment assets Corporate headquarters assets Total assets 180,345 170,976 97,638 58,617 $ 507,576 130,655 989,590 376,044 613,546 $3,987,776 $3,209,078 $1,587,006 $1,209,970 $ 9,993,830 1,008,988 $ 11,002,818 Capital expenditures. $ 349,776 $ 365,543 $ 276,655 $ 23,695 $ 1,015,669 In compiling notes to the financial statements, CHIC's accountants prepared the following Note to comply with the operating segment disclosure requirements of ASC Topic 280, "Segment Reporting." Automobiles Trucks Note X. Operating Segments ($ in thousands) Revenues Segment Profit (Loss) Assets $4,651,547 $ 881,292 $3,987,776 $4,104,414 $ 456,530 $3,209,078 Other $2,415,044 $ 289,999 $2,796,976 Required 1. Prepare a report for CHIC's management evaluating whether the operating segments disclosures prepared by CHIC's accountants comply with ASC 280. 2. Prepare a revised operating segments note to comply with ASC 280. CHIC does not have any unusual or extraordinary items, significant noncash items other than depreciation and amortization, or equity method affiliates