Income statements for Caesars Entertainment Corporation for the three years ending December 31, 2012 through 2014. Caesars Entertainment Corporation Consolidated Statements of Operations (Condensed and adapted) In millions, except per share date 2014 2013 2012 Revenues Casino revenue $5,418 $5,729 $5,916 Food and beverage revenue 1,522 1,489 1,438 Rooms revenue 1,207 1,167 1,147 Net revenues $8,147 $8,385 $8,501 Operating Expenses Variable casino expenses $3,253 $3,112 $3,368 Variable food and beverage expenses 694 639 634 Variable rooms expenses 315 296 289 Fixed expenses 4,706 6,199 3,761 Total operating expenses $8,968 $10,246 $8,052 Income/(loss) from operations ($821) ($1,861) S449 21. Caesar's Palace evaluates each department based on its segment margin to consider the merits of discontinuing nonprofitable departments, which of the following statements is FALSE? (a) The segment margins for all three segments are positive. (b) Caesars should not discontinue any of the segments based on the information provided c) an allocation of overhead should be included in the segment margin (d) Segment margin is calculated from the revenues and expenses directly traceable to a segment