Segment Reporting (Appendix 5.1) Parks Conglomerate Company does business in several different industries. The following is a 2016 condensed income statement for the entire company: Sales $300,000 Less: Cost of goods sold $140,000 Depreciation expense 30,000 Other operating expenses 60,000 Total expenses (230,000) Pretax income $70,000 Income tax expense (21,000) Net income $49,000 Earnings per share (20,000 shares) $2.45 Parks has two major operating segments, A and B. No other operating segment contributes 10% or more of the company's activities. Segments A and B make no sales to each other or to the other segments of the company. An analysis reveals that $2,000 of the total depreciation expense and $6,000 of the total other operating expenses are related to general corporate activities. The remaining expenses and total revenues are directly allocable to segment activities according to the following percentages: Percent Identified with Segment A Segment B Segment C Sales 40 % 46 % 14 % Cost of goods sold 35 50 15 Depreciation expense 40 45 15 Other operating expenses 42 40 18 Required: Prepare a schedule that reports on the revenues and profit of Segments A and B and the other operating segments of Parks for 2016. Be sure to reconcile these amounts with the related totals on the preceding income statement. Use a minus sign to enter any subtractive numbers (i.e. expenses). PARKS CONGLOMERATE COMPANY Industry Segment Financial Results For Year Ended December 31, 2016 Reportable Operating Segment A Reportable Operating Segment B All Other Segments Total Results Segment revenues (sales) $ $ $ $ Segment profit (pretax) $ $ $ $ General corporate expenses Pretax income $ Check My Work1 more Check My Work uses remaining.