ummins, Inc. (CMI) reports investments in affiliated companies, consisting mainly of investments in nine manufacturing joint ventures. Cummins report 734 million, and provides the following financial information of its investee companies in a footnote to its 10-K report: et sales Gross margin let income (in millions) Cummins share of net income oyalty and interest income otal equity, royalty and interest income from investees Current assets oncurrent assets urrent liabilities oncurrent liabilities let assets As of and for the years ended December 31, 2009 $5,554 1,365 427 $ 196 18 2010 $7,107 1,651 668 $321 30 $351 $2,741 1,253 $214 $2,005 1,123 (1.837) (1,406) (499) (390) $1,658 $1,332 2008 $6,610 1,509 498 $ 231 22 $253

ummins, Inc. (CMI) reports investments in affiliated companies, consisting mainly of investments in nine manufacturing joint ventures. Cummins report 734 million, and provides the following financial information of its investee companies in a footnote to its 10-K report: et sales Gross margin let income (in millions) Cummins share of net income oyalty and interest income otal equity, royalty and interest income from investees Current assets oncurrent assets urrent liabilities oncurrent liabilities let assets As of and for the years ended December 31, 2009 $5,554 1,365 427 $ 196 18 2010 $7,107 1,651 668 $321 30 $351 $2,741 1,253 $214 $2,005 1,123 (1.837) (1,406) (499) (390) $1,658 $1,332 2008 $6,610 1,509 498 $ 231 22 $253

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter5: Income Statement: Reporting The Results Of Operating Activities

Section: Chapter Questions

Problem 29P

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