Shanghai Corporation, the Chinese affiliate of a U.S. manufacturer, has the balance sheet shown below. The current exchange rate is $0.15 = CNY1

I've attached a screenshot of the Balance Sheet of Shanghai Corporation (000's).

Balance Sheet of Shanghai Corporation (000's) Assets Liabilities Cash CNY 5,000 Accounts payable CNY21,000 Accounts receivable 14,000 Long-term debt 27,000 Inventories* (cost = 24,000) 22,000 Fixed assets, net 39,000 Stockholders' equity 32,000 Total assets CNY80,000 Total liab & SE CNY80,000 "Inventories are carried at the lower of cost or market