Problem 1 To manage its operations, Excellent, Inc. reports to top management on five different segments which are consolidated appropriately for the annual financial statements. Information about each segment included in the current year's consolidated statements appears in the table below (in 000's): Sales to outside parties Intersegment revenues Outside parties interest income Intersegment interest income Operating expenses Interest expense Tangible assets Intangible assets 140 -0- Shades Benches m -0- Tarps $8,220 Seats Finance $2,790 $830 $1,450 170 130 140 $ -0- -0- 30 10 -0- 250 -0- -0- 210 2,100 1,390 750 20 80 20 40 110 1,660 3,880 690 730 140 120 480 20 60 870 -0- 5,090 170 Excellent, Inc. has $310,000 of corporate expenses that it does not allocate to the segments. Carry out: a. the revenue test, b. the profit and loss test, and c. the asset test to determine which segments are separately reportable. Clearly show the results of each test and your decision on each test.