The information that follows is for Cob Company at and for the year ended December 31, 2011. Cob’s operating segments are cost centers currently used for internal planning and control purposes. Amounts shown in the Total Consolidated column are amounts prepared under GAAP for external reporting. (Data are in thousands of dollars.)
REQUIRED
1. Prepare a schedule to determine which of Cob’s operating segments are reportable segments under (a) the 10 percent revenue test, (b) the 10 percent operating-profit test, and (c) the 10 percent asset test.
2. Prepare a schedule to show how Cob’s segment information would be disclosed under the provisions of FASB ASC Topic 280.
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