Question: Hinter Company's condensed income statement is presented below: (25 Points) $2,500,000 Cost of goods sold Operating and administrative expenses Depreciation expense $1,000,000 500,000 100.000 1,600.000
Hinter Company's condensed income statement is presented below: (25 Points) $2,500,000 Cost of goods sold Operating and administrative expenses Depreciation expense $1,000,000 500,000 100.000 1,600.000 900,000 Income before taxes Income tax expenses 270.000 - Net income Earnings per share (100,000 shares) $6.30 The following data is compiled relative to Hunter's operating segments: Hotels Grains Candy 8% Cost of goods sold Operating and administrative expense Depreciation expense 42% 48 35 46 50% 49 50 42 3 15 12 Included in the amounts allocated to each segment on the above percentages are the following expenses, which relate to general corporate Operating Seaments .Hotels -Grains Card. Totals- Operating and adm. expense $30,000 $22,000 $8,000 $60,000 4,000 5,000 3,000 12,000 Depreciation expense Prepare a schedule showing the amounts distributed to each segment. Based only on the above information, which segments must be reported and why
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