Analyzing and Interpreting Disclosures on Equity Method Investments Cummins, Inc. (CMI) reports investments in affiliated companies, consisting mainly of investments in nine manufacturing joint ventures. Cummins reports those investments on its balance sheet at $734 million, and provides the following financial information of its investee companies in a footnote to its 10-K report: (a) What assets and liabilities of unconsolidated affiliates are omitted from Cummins's balance sheet as a result of the equity method of accounting for those investments? Assets x (\$ millions) Liabilities (\$ millions)