The following table includes quarterly working capital levels for your firm for the next year.

Quarter
($000s)	1	2	3	4
Cash	100	100	100	100
Accounts Receivable	200	100	100	600
Inventory	200	500	900	50
Accounts Payable	100	100	100	100

a. What are the permanent working capital needs of your company? What are the temporary needs?

b. If you hold only $100 in cash at any time, what is your maximum short-term borrowing and when?