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Grum Corp., a publicly-owned corporation, is subject to the requirements for segment reporting. In its income statement for the year ended December 31, Grum
Grum Corp., a publicly-owned corporation, is subject to the requirements for segment reporting. In its income statement for the year ended December 31, Grum reported revenues of $50,000,000, operating expenses of $47,000,000, and net income of $3,000,000. Operating expenses include payroll costs of $15,000,000. Grum's combined identifiable assets of all industry segments at December 31, were $40,000,000. Grum Co.'s four business segments have revenues and identifiable assets expressed as percentages of Grum's total revenues and total assets as follows: Revenues Assets Ebon 64% 66% Fair 14% 18% Gel 14% 4% Hak 8% 12% 100% 100% Which of these business segments are deemed to be reportable segments? Ebon only. Ebon and Fair only. Ebon, Fair, and Gel only. O Ebon, Fair, Gel, and Hak.
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