The accounting records of Lawrence Fur Traders include these accounts:

Requirement
1. Compute Lawrence€™s net cash provided by (used for) operating activities during October. Use the indirect method. Does Lawrence have trouble collecting receivables or selling inventory? How can youtell?

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Cash Accounts Receivable Inventor Oct 1 11,000 Receipts 537 Oct 31 102,000 Oct 8,000 Oct 1 4,000 Pa 446,000 538 Collections 537,000 Purchases 437,000 Cost of sales 434,000 Oct 31 9,000 Oct 31 7,000 Equipment Accounts Payable Accumulated Deprec-Equipment Oct 52,000 Oct 1 188,000 uisition 7 Oct 31 195,000 14,000 328,000 Purchases 437,000 Oct 31 123,000 Oct 1 tion 9,000 Pa Oct 31 61,000 Accrued Liabilities Retained Earnings Oct 1 12,000 Quarterly Oct 1 66,000 22,000 Dividend 18,000 Net Income 35,000 Oct 3 83,000 28,000 Recei Oct 31 6,000