The following disclosure note is from the 31 December 20X4 financial statements of Riconda Limited: The Company operates one operating segment, that being the design, manufacture, and sale of graphics and multimedia products for personal computers and consumer electronic devices.

Required:
1. What is the purpose of this disclosure note?
2. Evaluate the information presented. What does it tell you about the company€™s operations?
3. Review the requirements for segment disclosures. What information is lacking in the note above?Why?

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20X2 20X1 20X0 Sales Canada U.S Europe Asia-Pacific Consolidated sales $23,104 325,464 247,795 441,446 31,119 41,175 425,000 412,855 307,320 $1,037809 $1,283,065 $1,186,350 424,472 396,805 430,669 Product Sales Components Boards Other Consolidated sales $481,083 $499,859 390,238 796,112 548,053 8,673 778,015 5,191 $1,037809 $1,283065 %1,186,350 Noncurrent Assets Canada U.S Europe Asia-Pacific Consolidated noncurrent assets $54,162 $42,494 36,590 421,955 297,417 5,071 706 5,364 919 31,341 5,410 1,051 357,356 470,732 74,392