Question: ebook check my workcheck my work button is now enabled1...
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Item 1 3.33 points
Ecru Company has identified five industry segments: plastics, metals, lumber, paper, and finance.
It appropriately consolidated each of these segments in producing its annual financial statements. Information describing each segment (in thousands) follows:
|Sales to outside parties||$||6,625||$||2,334||$||701||$||412||$||0|
|Interest income from outside parties||0||32||19||0||40|
|Interest income from intersegment loans||0||0||0||0||197|
|Intersegment loans (debt)||0||0||0||0||702|
Ecru does not allocate its $1,480,000 in common expenses to the various segments.
Perform testing procedures to determine Ecru’s reportable operating segments.
Profit or loss test: