Q:-2 What are the major components in Balance of Payments Statement? An American Company XYZ has imported Supplies of $15000 for its new product from Japan on December 22.The payment for these supplies has to be made in Japanese currency Yen. Assume that the banks Bid rate for yen is 0.01$ and its Ask rate is 0.05$. Compute how many yens are required for this payment. Also calculate the Bid/Ask spread for transactions made by bank.