Problem # 3 Segment reporting Finney Company's condensed income statement is presented below Revenues $900,000 $400,000 200,000 Cost of goods solde Operating and administrative expenses Depreciation expense 4000020 000 260,000 Income before taxes Income tax expenses Net income $1.82 Earnings per share (100,000 shares) The following data is compled relative to Finney's operating segments: HotelsGrains Candy 8% 50% 49 50 42 42% 48 35 46 15 12 Cost of goods sold Operating and administrative expense Depreciation expense Included in the amounts allocated to each segment on the above percentages are the following expenses which relate to general corporate activities $12,000 $9,000 $3,000 $24,000 3,500 4,000 2,500 10,000 Operating and administrative expense Depreciation expense Instructions (a) Prepare a schedule showing the amounts distributed to each segment. (data was Given) calculated for you Based only on the above information, which segments must be reported and why? (b)