Ski Lifts Inc. is a highly seasonal business. The following summary balance sheet provides data for peak and off-peak seasons (in thousands of dollars): Peak Off-peak Cash $ 50 $ 30 Marketable securities 0 20 Accounts receivable 40 20 Inventories 100 50 Net fixed assets 500 500 $690 $620 Spontaneous liabilities $ 30 $ 10 Short-term debt 50 0 Long-term debt 300 300 Common equity 310 310 $690 $620 From this data we may conclude that a. Ski Lifts has a working capital financing policy of exactly matching asset and liability maturities. b. Ski Lifts' working capital financing policy is relatively aggressive; that is, the company finances some of its permanent assets with short-term discretionary debt. c. Ski Lifts follows a relatively conservative approach to working capital financing; that is, some of its short-term needs are met by permanent capital. d. Without income statement data, we cannot determine the aggressiveness or conservatism of the company's working capital financing policy. e. Both statements a and c are correct