Willis owns 60% of Yones. On January 1. 2011 Yonex has bonds payable outstanding of 6,000,000 and a bond discount account with a debit balance of 500,000. On that date Willis purchases all the outstanding bonds for a price of 5,600,000 =. How much is the gain or loss on the in substance defeasance( early"retirement") of the bonds?

Segment reporting

Sales of outsiders red 1811 Blue 812 Green 514 Pink 309 black 121 white 99

Intersegment revenues red 16 Blue 91 Green 109 Pink 0 Black 16 White 302

Salary expense Red 614 Blue 379 Green 402 Pink 312 Black 317 White 62

Rent expense Red 139 Blue 166 Green 81 Pink 92 Black 42 White 31

Segment Profit and Loss

Segment Assets Red 100 Blue 300 Green 600 Pink 200 Black 300 White 500

Segment Liabilities Red 50 Blue 100 Green 200 Pink 75 Black 275 White 220

1 Under the revenue test alone which are the reportable operating segments

2 Under the assets test alone which are the reportable operating segments

3 Under the Profit and loss test alone which ate the reportable operating segments

4 Using all three test, which are the reportable operating segments

5 Assume that only Red Blue and Green are of sufficient size to require separate disclosure. Is Steinitz disclosing enough segments?