The accounting records of the Wisconsin Trading Post Company include these accounts:

Requirement
Prepare the company's net cash provided by (used for) operating activities section of the statement of cash flows for the month of July. Use the indirect method. Do you see any potential problems in the company's cash flows from operations? How can you tell?

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Cash Accounts Receivable Inventory Jul 1 80,000 Jul 1 8,000 Jul 1 6,000 Receipts 468,000 Payments 450,000 Credit sales 522.000 Collections 418.000 Purchases 433,000 Cost of Sales 333,000 Jul 31 98,000 Jul 31 112,000 Jul 31 106,000 Equipment Accumulated Deprec.-Equipment Accounts Payable Jul 1 186,000 Acquisition 8,000 ul 31 194,000 11,000 Depreciation 2,000 Payments 330,000 Purchases 433,000 Jul 31 114,000 Jul 1 45,000 Jul 1 |Jul 31 47,000 Accrued Liabilities Retained Earnings Jul 1 64,000 Payments 33,000 Accruals 29.000 Dividend 16.000 Net Income 10,000 Jul 31 58,000 Jul 1 14,000 Quarterly Jul 31 10,000