2. Shanghai Corporation, the Chinese affiliate of a U.S manufacturer, has the balance sheet shown below. The current exchange rate is $0.15-CYN1. Assets Liabilities and Stockholders' equity Cash CNY 11,000 Accounts payable CNY 27,000 35,000 Accounts receivables 17,000 Long-term debt Inventories 29,000 Fixed assets net 40,000 Stockholders' equity 35,000 Total Liabilities & Total assets CNY 97.000 Stockholders' equity CNY97,000 Required: If the Chinese Yuan appreciate by 25 percent, what would be the translation effects under monetary -non monetary method? By the temporal method