Hockey Kits Inc. 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): Peak Cash $50 Off-peak $ 30 20 0 Marketable securities Accounts receivable Inventories 40 20 100 50 Net fixed assets 500 500 $620 Total assets $690 $10 0 300 Spontaneous liabilities $ 30 Short-term bank debt 50 Long-term debt 300 Common equity 310 Total claims $690 What can we conclude from this data? 310 $629 Hockey Kits follows a relatively conservative approach to working capital financing; that is, some of its short-term needs are met by permanent capital. Hockey Kits' working capital financing policy is relatively aggressive; that is, the company finances some of its permanent assets with short-term discretionary debt. Without income statement data, we cannot determine the aggressiveness or conservatism of the company's working capital financing policy. Hockey Kits' working capital financing policy calls for exactly matching asset and liability maturities