Franklin Corporation is a diversified company that operates in five different industries: A, B, C, D, and E. The following information relating to each segment is available for 2020. Sales of segments B and C included intersegment sales of $20,000 and $100,000, respectively

instructions

a. Determine which of the segments are reportable under IFRS based on each of the following: Revenue test Operating profit (loss) test Assets test b. Prepare the necessary disclosures. c. The corporation's accountant recently commented, If I have to disclose our segments individually, the only people who will gain are our competitors and the only people who will lose are our present shareholders. Evaluate this comment.

A B D E Sales $40,000 $580,000 $35,000 $55,000 $ 80,000 50,000 19,000 270,000 19,000 30,000 10,000 235,000 12,000 18,000 40,000 Cost of goods sold Operating expenses Total expenses Operating profit (loss) Assets 29,000 505,000 31,000 48,000 90,000 $(10,000) $11,000 $ 75,000 $ 4,000 $ 7,000 $35,000 $500,000 $65,000 $50,000 Liabilities $22,000 60,000 $ 31,000 $443,000 $12,000 $29,000