Q2.14) Shanghai Corporation, the Chinese affiliate of a U.S manufacturer, has the balance sheet shown below. The current exchange rate is $0.25=CYNI. Required: a) If the Chinese Yuan appreciate by 30 percent, what would be the translation effects under current-noncurrent method? By the monetary-nonmonetary method? b) If the Chinese Yuan depreciated by 25 percent, what would be the translation effects under current- noncurrent method? By the monetary- nonmonetary method? Assets Liabilities and Stockholders' equity Cash CNY 7,000 Accounts payable CNY 23,000 Accounts receivables 16,000 Long-term debt 29,000 Inventories 24,000 Fixed assets net 41,000 Stockholders' equity 36,000 Total assets CNY 88,000 Total Liabilities & Stockholders' equity CNY88,000