On March 15, 2024, Sigma Corporation and Theta Company form a joint venture to develop a new product. Each contributes $5 million and has a 50 percent interest in the venture. At December 31, 2024, the joint venture’s balance sheet is as follows (in millions):

Cash	$3.5
Equipment	$18.0
Total	$21.5
Debt	$11.0
Equity	$10.5
Total	$21.5

The joint venture reported net income of $1,000,000 during 2024. Each investor uses the equity method to report its interest in the joint venture.

Show how the joint venture is reported on each investor’s financial statements for 2024. Where are the joint venture’s individual assets and liabilities reported by the venturers?