33. Dow Chemical reports Equity Investments of $3,487 million (5% of total assets) and equity income on those investments of $845 million (25% of net income) in its 2014 10-K report. In the footnotes, the company provides the following summary financial information relating to its equity investments:

Summarized Balance Sheet Information at December 31 (in millions)	2014
Current Assets	$9,611
Noncurrent Assets	27,025
Total Assets	$36,636
Current Liabilities	$6,321
Noncurrent Liabilities	21,047
Total Liabilities	$27,368
Noncontrolling Interests	$666

Summarized Income Statement Information (in millions)	2014
Sales	$19,333
Gross Profit	$3,526
Net Income	$1,673

a. Approximately what percent of the investee companies does Dow Chemical own?

b. Do the investee total liabilities of $27,368 million appear on Dow Chemical's balance sheet? How might these liabilities affect Dow Chemical's cash flow?