A U.S-based MNC has a subsidiary in China where the local currency is the Renminbi (RMB). The balance sheets and income statements of the subsidiary are presented in the table below. On December 31, 2005, the exchange rate was 8.27 RMB/US$. Assume the local currency figures in the statement below remain the same on December 31, 2006. Calculate the U.S. dollar translated figures for the two ending time periods assuming that between December 31, 2005 and December 31, 2006, the Chinese government revalues (appreciates) the RMB by 20 percent.
Translation of Income Statement 
Translation of Balance Sheet 
Definitions:
Physiological Well-Being
A state of physical health and functioning that allows an individual to perform daily activities without limitations or distress.
Maslow's Hierarchy
A theory of psychological motivation based on a hierarchy of needs, from basic survival needs to self-actualization.
Lower-Order Physiological Needs
Basic human necessities such as food, water, shelter, and sleep that are essential for survival.
Adequate Compensation
Refers to fair and sufficient payment or remuneration provided to employees for their work, balancing their contributions with their earnings.
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