Your friend Joe invested bought shares in Big Inc a large manufacturing operations with direct operations in various industries. Joe received the Annual Report and he reached out for you needing assistance in the following matters.

Required

Part a 4 marks

The following data pertain to the industries in which operations were conducted for the year ended December 31, 2020. The numbers are all in thousands of Canadian Dollars.

Industry	Revenues	Profits	Assets
ALEX	25,000	1,650	10,000
FAB	4,000	1,400	2,500
Wire	16,000	350	500
PACK	3,000	550	1,500
STRUCT	13,333	675	10,000
BARM	2,600	225	1,400
	63,933	4,850	25,900

According to IFRS, how many reportable segments does Big Inc. have? Show you calculations

Part b- 3 marks

I am so confused Why do I need all this information in part a? Explain to Joe briefly , what is segmented information and why is it relevant

Part c - 3 marks

Joe read recently a business article about the Notes to the financial statements and was wondering

1. Are notes considered part of the financial statements?
2. What basic purpose do they serve?