May Co. has total fixed assets of P100,000 and no current liabilities. The table below displays its wide variation in current asset components. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Cash P 20,000 P 10,000 P 15,000 P 20,000 Accounts receivable 66,000 25,000 47,000 88,000 Inventory 20,000 65,000 59.000 10,000 Total P106,000 P100,000 P121,000 P118,000 If May's policy is to finance all fixed assets and half the permanent current assets with longterm financing and rest with short time-financing, what is the level of long-term financing? A. P68,000 C. P150,000 B. P100,000 D. P155,625