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Finney Company's condensed income statement is presented below: Revenues $908,000 $400,000 183,000 42,000 Expenses Cost of goods sold Operating and administrative expenses Depreciation expense Income
Finney Company's condensed income statement is presented below: Revenues $908,000 $400,000 183,000 42,000 Expenses Cost of goods sold Operating and administrative expenses Depreciation expense Income before taxes Income tax expenses Net income Earnings per share (100,000 shares) 625,000 283,000 78,000 $205,000 $2.05 The following data is compiled relative to Finney's operating segments: Percent Identified with Segment Hotels Grains Candy 42 % 49 % 9 % ols Revenues Cost of goods sold Operating and administrative expense Depreciation expense 33 48 Included in the amounts allocated to each segment on the above percentages are the following expenses which relate to general corporate activities: Operating Segment Hotels Grains Candy $13,000 $7,100 $2,700 2,900 1,000 5,000 Operating and administrative expense Depreciation expense Totals $22,800 8,900 Prepare a schedule showing the amounts distributed to each segment. Operating Segment Grains Hotels Candy Totals Revenues Expenses Cost of goods sold Operating and admin. expense Depreciation expense Total expenses Operating profit
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