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Taft Corporation operates primarily in the United States. However, a few years ago, it opened a plant in Spain to produce merchandise to sell there.
Taft Corporation operates primarily in the United States. However, a few years ago, it opened a plant in Spain to produce merchandise to sell there. This foreign operation has been so successful that during the past 24 months the company started a manufacturing plant in Italy and another in Greece. Financial information for each of these facilities follows SpainItaly Greece Sales Intersegment transfers Operating expenses Interest expense Income taxes Long-lived assets s 228,80 645,808 18e,988 251,8e8 47,888 37,808 195,8e8 217,ee0 34,808 85,808 136,8e8 185,808 235,808 37,808 52,8e8 145,8e8 The company's domestic (U.S.) operations reported the following information for the current year: Sales to unaffiliated customers Intersegment transfers Operating expenses Interest expense Income taxes Long-lived assets $4,688,88 517,808 2,58e,8ee 181,808 989,8ee 2,298,8ee Taft has adopted the following criteria for determining the materiality of an individual foreign country a. Calculate sales to unaffiliated customers within a country and as a percent of the consolidated sales. b. Calculate long-lived assets within a country and as a percentage of the long-lived assets. c. Apply Taft's materiality tests to identify the countries which are 10 percent or more of consolidated sales or consolidated long-lived assets to be reported separately Complete this question by entering your answers in the tabs below Required ARequired B Required C Calculate sales to unaffiliated customers within a country and as a percent of the consolidated sales. (Round your percentage answers to 2 decimal places.) United States Spain taly Greece Total
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