The accounting records of Lane Fur Traders include these accounts:

Requirement
1. Compute Lane€™s net cash provided by (used for) operating activities during December. Use the indirect method. Do you see any potential problems in Lane€™s cash flows from opera-tions? How can you tell?

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Cash Inventory 7,500 Accounts Keceivable Dec 100,000 Reccipts 626,000 Pa Dec 31 188,000 Dec 1 Dec 1 538,000 Credit salcs 528 Dec 31 5,000 Collections 525,000 Purchascs 451,000Cost of Sales 449,500 8,000 Dec 31 9,000 Equipment Accumulated Deprec-Equipment Accounts Payable Dec 1 181,000 Acquisition 10,000 Dec 31 191,000 14,500 ation 17,000 Payments 389,000 Purchases 451,000 Dec 3 76,500 Dec 1 60,000 Dec 1 Dec 3 77,000 Accrued Liabilities Retained Earnings Dec 19,000 Quarterly Dec67,000 Net Incom 17,000 Dec 65,000 Payments 29,000 Accruals 25 Dividend 19 Dec 3 15,000