Question
Merriweather Company, a publicly-held firm, is completing its 10-K report for fiscal 2020. Merriweather considers that it is involved in five separate lines of business.
| Merriweather Company, a publicly-held firm, is completing its 10-K report for fiscal 2020. Merriweather considers that it is involved in five separate lines of business. | ||||||
| The following information is available, from which Merriweather must determine which segments are reportable and what that disclosure should look like. |
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| Line of business | Total revenue | Operating Profit or (loss) | Identifiable assets |
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| Children's wear | 120,000,000 | 30,000,000 | 167,000,000 |
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| Women's wear | 20,000,000 | 3,000,000 | 52,000,000 |
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| Men's wear | 46,000,000 | 2,000,000 | 145,000,000 |
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| Outerwear | 18,000,000 | (1,050,000) | 45,000,000 |
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| Foot wear | 22,000,000 | (9,600,000) | 140,000,000 |
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| Total | 226,000,000 | 24,350,000 | 549,000,000 |
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