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1、READING21IntercorporateInvestment:Q&A1-6(原书BOOK-2P55Question1-6)ThefollowinginformationrelatestoQuestions1—6Cinnamon,Inc.isadiversifiedmanufacturingcompanyheadquarteredintheUnitedStates,anditcomplieswithU.S.CAAP.In2008,Cinnamonhelda19percentpassivestakeinCambridgePr
2、ocessingthatwasclassifiedasavailable-for-sale.Duringtheyear,thevalueofthisstakeroseby$2million.InDecember2008,Cinnamonannouncedthatitwouldbeincreasingitsownershipto50percenteffective1January2009.PeterLubbock,ananalystfollowingbothCinnamonandCambridge,iscurioushowthe
3、increasedstakewillaffectCinnamon’sconsolidatedfinancialstatements.HeasksCinnamon’sCFOhowthecompanywillaccountforthestake,andistoldthatthedecisionhasnotyetbeenmade.Lubbockdecidestousehisexistingforecastsforbothcompanies’financialstatementstocomparevariousalternativeo
4、utcomes.LubbockgathersabbreviatedfinancialstatementdataforCinnamon(Exhibit1)andCambridge(Exhibit2)forthispurpose.Exhibit1SelectedFinancialStatementEstimatesforCinnamon,Inc.($Millions)YearEnding31December20082009Revenue$1,400$1,575Operatingincome126142Netincome626931
5、December20082009Totalassets1,1701,317Shareholders’equity616685Exhibit2SelectedFinancialStatementEstimatesforCambridgeprocessing($Millions)YearEnding31December20082009Revenue$1,000$1,100Operatingincome8088Netincome4044Dividendspaid202231December20082009Totalassets800
6、836Shareholders’equity4404621.In2008,Cinnamon’searningsbeforetaxesincludesacontribution(in$millions)fromitsinvestmentinCambridgeProcessingclosesttoA.$2.5million.B.$3.8million.C.$5.0million.Biscorrect.Dividendsfromequitysecuritiesthatareclassifiedasavailable-for-sale
7、areincludedinincomewhenearned.Cinnamonwouldrecordits19percentshareofthedividendspaidbyCambridge,whichamountedto$3.8million.ThoughthevalueofCinnamon’sstakeinCambridgeProcessingroseby$2millionduringtheyear,underU.S.GAAPanyunrealizedgainsorlossesforavailable-for-salese
8、curitiesarereportedintheequitysectionofthebalancesheetaspartofothercomprehensiveincomeuntilthesecuritiesaresold.2.In2009,Cinnamonisleastli
