In its 20X5 financial statements, Ward should disclose foreign revenues in a specific country if revenues from foreign operations in that country are at least

a. $5,000,000.

b. $4,700,000.

c. $4,000,000.

d. $1,500,000.

Ward Corporation, a publicly owned corporation, is subject to the requirements for segment reporting. In its income statement for the year ending December 31, 20X5, Ward reported revenues of $50,000,000, operating expenses of $47,000,000, and net income of $3,000,000. Operating expenses included payroll costs of $15,000,000. Ward’s combined assets of all industry segments at December 31, 20X5, were $40,000,000.