Horace Jones Company consists of six business segments. The consolidated income statement as well as information about each of the segments for Year 1 as reported to the chief executive officer is as follows.

Summary of business segment and general corporate activity for Year 1:

Additional information:
At December 31, Year 1, consolidated total assets were $3,800 and consolidated total liabilities were $1,700. There were no significant noncash expenses other than depreciation, and no unusual items included in income. There were no investments in equity method associates or joint ventures.
Required:
The company uses International Financial Reporting Standards (IFRS) to prepare its financial statements. Prepare the note to financial statements in accordance with IFRS 8, Operating Segments.

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HORACE JONES COMPANY Consolidated Income Statement Year 1 Revenues 1,790 Cost of goods sold (1,060 Depreciation and amortization 230) er operating expenses 380) Operating income Interest expense Income before ta Income tax 120 30) 90 (30) $60 neral Segment rate evenues xternal sales revenue Intersegment sales revenue enses. st of goods sold preciation and amortization her operating expenses 00 30013090 60 80 10 120 150 10 30 Interest expense 10 ncome taxes 0 (40 20 20 ets urrent assets roperty, plant and equipment (net) 10 450 150 10080 15070 Purchases of property, plant and equipment10 00 15 125 21 13 Intangibles abilities 50 300250170140