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Please look at attached document for the question. Ecru Company has identified five industry segments: plastics, metals, lumber, paper, and finance. It appropriately consolidated each
Please look at attached document for the question.
Ecru Company has identified five industry segments: plastics, metals, lumber, paper, and finance. It appropriately consolidated each of these segments in producing its annual financial statements. Information describing each segment (in thousands) follows: Plastic s Sales to outsid e parties Interse gment transfe rs Interes t incom e from outsid e parties Interes t incom e from interse gment loans Operat ing expen ses Interes t expen se Tangi ble assets Intang ible assets Interse gment loans (debit) Lumb er Paper $ 6,319 $ 2,144 $ 106 131 0 Metals Financ e 636 $ 347 0 96 108 0 19 6 0 0 0 0 0 159 3,914 1,612 916 579 16 61 16 51 31 87 1,291 2,986 314 561 104 72 361 0 48 0 0 0 0 0 664 $ 27 Ecru does not allocate its $1,250,000 in common expenses to the various segments. Perform testing procedures to determine Ecru's reportable operating segments. (Leave no cells blank - be certain to enter "0" wherever required. Input all amounts as positive values. Enter your dollar answers in thousands. Round your percentage answers to 1 decimal place.) Revenue test: Segment Plastics Metals Lumber Paper Finance Revenues Percentage $ $ Total % % % % % % Profit or loss test: Segment Plastics Metals Lumber Paper Finance Revenues Expenses $ Profit $ Loss $ $ Total $ $ Asset test: Segment Plastics Metals Lumber Paper Finance Assets Total Percentage $ % % % % % $ % check my workreferencesebook & resources Worksheet Difficulty: 2 Medium Learning Objective: 08-02 Apply the three tests that are used to determine which operating segments are of significant size to warrant separate disclosureStep by Step Solution
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