Bennett Inc. is a publicly held corporation whose diversified operations have been separated into five industry segments. Bennett is in the process of preparing its annual financial statements for the year ended December 31, 20X5. The following information has been collected for the preparation of the segment reports required by ASC 280.

Required
a. Determine which of the operating segments are reportable segments for Bennett. Your determination should include all required tests and the results of those tests for each of Bennett€™s five segments.
b. The reportable segments determined in ( a ) must represent a substantial portion of Bennett€™s total operations when taken together. Describe how to determine whether a substantial portion of Bennett€™s operations is explained by its segmentinformation.

BENNETT INC. Selected Data For the Year Ended December 31, 20X5 (in thousands) Power Fastening Household Plumbing Security Tools Systems Products Products Systems Item Sales to Unaffiliated $32,000 10,000 4,500 4,800 200 $5,000 4,500 (600) (750) 17,000 $3,000 1,000 $4,000 3,100 700 (100) 6,000 $2,000 Customers Intersegment Sales Total Revenue Cost of Goods Sold Operating Profit Net Income Segment Assets 5,500 $42,000 $10,000 8,000 1,000 800 50,000 23,000 $2,000 1,700 (100) (200) 4,000 30,000 4,500 2,600