Problem #$1$

Listed below is operating segment data for a proprietary $($for$-$profit$)$ college:

Consolidated Net Income is $$62,085.$

Directions:

Using the $\%$ of revenue test, determine which operating segments would be separately

reportable. Show all work.

Using the $\%$ of profit$/$loss test, determine which operating segments would be separately

reportable. Show all work.

Using the $\%$ of asset test, determine which operating segments would be reportable. Show all

work.

Determine which segments would not be separately reported.

Do the separately reported units meet the $75\%$ of consolidated net income test? Explain.