Looking forward to next year, if Baldwins current cash balance is $20,132 (000) and cash flows from operations next period are unchanged from this period, and Baldwin takes ONLY the following actions relating to cash flows from investing and financing activities: Issues 100 (000) shares of stock at the current stock price Issues $400 (000) in bonds Retires $10,000 (000) in debt Which of the following activities will expose Baldwin to the most risk of needing an emergency loan?

a. Liquidates the entire inventory

b. Sells $10,000 (000) of their long-term assets

c. Purchases assets at a cost of $25,000 (000)

d. Pays a $5.00 per share dividend