Segment Reporting W orksheet and Schedules

Calvin Inc. has operating segments in five different industries: apparel, building, chemical, furni- ture, and machinery. Data for the five segments for 20X1 are as follows:

	Appa r el	Building	Chemical	Fu r nitu r e	Machinery
Sales to nonaffiliates	$870,000	$750,000	$55,000	$95,000	$180,000
Intersegment sales			5,000	15,000	140,000
Cost of goods sold	480,000	450,000	42,000	78,000	150,000
Selling expenses Other traceable	160,000	40,000	10,000	20,000	30,000
expenses Allocated general	40,000	30,000	6,000	12,000	18,000
corporate expenses Other information: Segment assets	80,000   610,000	75,000   560,000	7,000   80,000	13,000   90,000	25,000   140,000
Depreciation expense	60,000	50,000	10,000	11,000	25,000
Capital expenditures	20,000	30,000			15,000

Additional Information

1. The corporate headquarters had general corporate expenses totaling $235,000. For inter- nal reporting purposes, $200,000 of these expenses were allocated to the divisions based on their cost of goods sold. The chief operating decision maker does not use the other corporate expenses for making segmental decisions.

2. The company has an intercorporate transfer pricing policy that all intersegment sales shall be priced at cost. All intersegment sales were sold to outsiders by December 31, 20X1.

3. Corporate headquarters had assets of $125,000 that the chief operating decision maker did not use for making segmental decisions.

4. The depreciation expense (listed in the section titled “Other information”) has already been added into cost of goods sold in accordance with the company’s cost measurement policies.

Required

a. Prepare a segmental disclosure worksheet for Calvin Inc.

b . Prepare schedules to show which segments are separately reportable.

c. Prepare the information about the company’s operations in different industry segments as required by ASC 280.

d. Would there be any differences in the specification of reportable segments if the building seg- ment had $460,000 in assets instead of $560,000 and the furniture segment had $190,000 in assets instead of $90,000? Justify your answer by preparing a schedule showing the percentages for each of the three 10 percent segment tests for each of the five segments using these new amounts for segment assets.