During the audit of Apple Company, the auditors, Orange CPAs are concerned about the client's ability to continue operating as a going concern. As a result, a meeting is convened with senior management who advise the auditors that while they are aware of recent liquidity problems, a new line of credit has just been secured with a large bank, which will help the client with the seasonal nature of its business. Official documents received by the bank confirm the existence of this new line of credit. As a result of this, which of the following courses of action is most prudent for the audit firm? The auditors should consider requesting senior management record a contingent liability in the financial statements for any projected liquidity shortages, in order that the accounting principle of conservatism is adhered to. The auditors should consider requesting senior management make appropriate disclosures in the financial statements pertaining to the new line of credit, including reasons why the line of credit was obtained. The auditors should consider contacting the bank that has agreed to provide the line of credit and perform appropriate substantive and analytical procedures to ensure that the bank's liquidity position is strong enough to