Homework Saved Help Problem 8-38 (Algo) (LO 8-4) Taft Corporation operates primarily in the United States. However, a few years ago, it opened a plant in Spain to produce merchandise to sell there. This foreign operation has been so successful that during the past 24 months the company started a manufacturing plant in Italy and another in Greece. Financial information for each of these facilities follows: Sales Intersement transfers Operating expenses Interest oxpense Income taxes Long-lived assets Spain $ 196,000 0 192,000 24,000 75,000 111.000 Italy $ 620,000 100,400 226,000 37,000 27,000 170,000 Greece $ 470,000 80,000 210,000 27,000 42,000 120,000 The company's domestic (U.S.) operations reported the following information for the current year. Sales to unaffiliated customers Intersegment transfers Operating expensen Interest expense Income taxes Long-lived assets $ 4,580,000 467,000 2,450,000 156,000 859,000 2,240,000 Taft has adopted the following criteria for determining the materiality of an individual foreign country: (1) Sales to unaffiliated customers within a country are 10 percent or more of consolidated sales, or (2) long-lived assets within a country are 10 percent or more of consolidated long-lived assets. vork Saved Help Long-lived assets 2.240,000 Taft has adopted the following criteria for determining the materiality of an individual foreign country: (1) Sales to unaffiliated customers within a country are 10 percent or more of consolidated sales, or (2) long-lived assets within a country are 10 percent or more of consolidated long-lived assets. a. Calculate sales to unaffiliated customers within a country and as a percent of the consolidated sales. b. Calculate long-lived assets within a country and as a percentage of the long-lived assets. c. Apply Taft's materiality tests to identify the countries which are 10 percent or more of consolidated sales or consolidated long-lived assets to be reported separately, Complete this question by entering your answers in the tabs below. Required A Required B Required Apply Toft's materiality tests to identify the countries which are 10 percent or more of consolidated sales or consolidated long- lived assets to be reported separately. Identify the countries which are 10 percent or more of consolidated sales