Problem #1 Listed below is operating segment data for a proprietary (for-profit) college: Operating Segment Revenue Profit Education $500,800 Bookstore $65,291 Housing Dining Athletics $13,085 $259,612 $116,291 $40,078 $119,311 $21,411 Loss Total Assets ($64,756) $1,333,984 $75,499 $2,567,000 $58,300 $191,409 ($17,722) Consolidated Net Income is $62,085. Directions: 1) Using the % of revenue test, determine which operating segments would be separately reportable. Show all work. 2) Using the % of profit/loss test, determine which operating segments would be separately reportable. Show all work. 3) Using the % of asset test, determine which operating segments would be reportable. Show all work. 4) Determine which segments would not be separately reported. 5) Do the separately reported units meet the 75% of consolidated net income test? Explain.