3. Joe's Construction Ltd. is in a highly seasonal business, and the following summary balance sheet data show its assets and liabilities at peak and off-peak seasons (in thousands of dollars). (4 Marks) Peak Off-peak Cash $50 $ 30 Marketable securities 0 20 Accounts receivable 40 20 Inventories 100 50 Net fixed assets 500 500 Total assets $690 $620 Spontaneous liabilities Short-term bank debt Long-term debt Common equity Total claims $ 30 50 300 310 $690 $ 10 0 300 310 $620 What type of working capital policy does Joe's Construction likely follow? Briefly explain