The accounting records of Chaplaine Fur Traders include these accounts:

Requirement
1. Compute Chaplaine Fur Traders€™ net cash provided by (used for) operating activities during August. Use the indirect method. Do you see any potential problems in Chaplaine€™s cash flows from operations? How can youtell?

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Cash Accounts Receivable Inventorv Aug 1 6,00 Aug 3 53,000 Aug 8,000 Aug 80,000 Receipts 618,000 Payments 650,000 Credit sales 522,000 Collections 441,000 Purchases 433,000 Cost of Sales 386,000 Aug 31 48,000 Aug 31 89,000 Equipment Accumulated Deprec-Equipment Accounts Payable Aug 181,000 Acqson 4,000 Aug 3 185,000 Aug 1 45,000 Depreciation 6,000 Payments 371500 Purchases 433,000 Aug 31 51,000 Aug 15,000 |Aug 31 76,500 Accrued Liabilities Retained Earnings Aug14,000 Quarterly Aug 1 63,000 Payments 35,000 Accruals 30,000 Dividend20,000 Net Income 21,000 Aug 64,000 Aug 319,000