Summary balance sheet data for Greener Gardens Co. is shown below (in thousands of dollars). The company is in a highly seasonal business, and the data show its assets and liabilities at peak and off-peak seasons:

	Peak		Off-Peak
Cash	$ 50		$ 30
Marketable securities	0		20
Accounts receivable	40		20
Inventories	100		50
Net fixed assets	500		500
Total assets	$690		$620
Payables and accruals	$ 30		$ 10
Short-term bank debt	50		0
Long-term debt	300		300
Common equity	310		310
Total claims	$690		$620

From this data we may conclude that

a. Greener Gardens follows a relatively conservative approach to current asset financing; that is, some of its short-term needs are met by permanent capital.

b. Without cash flow data, we cannot determine the aggressiveness or conservatism of the company's current asset financing policy.

c. Without income statement data, we cannot determine the aggressiveness or conservatism of the company's current asset financing policy.

d. Greener Gardens' current asset financing policy calls for exactly matching asset and liability maturities.

e. Greener Gardens' current asset financing policy is relatively aggressive; that is, the company finances some of its permanent assets with short-term discretionary debt.