Industry situation and company plans Cummins has a very positive outlook for the future. The company is in good financial standings. “We still have some challenges ahead of us, especially in the first half of the year, but I am extremely optimistic about the future.” said CEO Tim Solso. Cummins is ready to tackle the tightening diesel emissions regulations. The rising cost of energy will drive people toward fuel efficient diesel engines in the future. http://www.truckinginfo.com/news/newsdetail.asp?news_id=69738 http://topics.nytimes.com/topics/news/business/companies/c ummins_inc/index.html
Income Statement Single step or Multi Step? ○ Multi Step 2008 2009 Gross Profit $2,940,000 $2,169,000 Income From operations $1,272,000 $682,000 Net Income $755,000 $428,000 2008 was a better year for cummins inc.(CMI). The gross profit, income from operations and net income were all higher than in 2009. this could be due to the decreasing want for big trucks in the US. Over Half of Cummins revenue came from other countries.