$540,000 358,000 Total assets Total noncurrent assets Liabilities: Notes payable (8%, due in 5 years) Accounts payable Income taxes payable Liability for withholding taxes Rent revenue collected in advance Bonds payable (due in 15 years) Wages payable Property taxes payable Note payable (10%, due in 6 months) Interest payable Common stock 15,000 51,000 13,000 3,000 11,000 101,000 11,000 7,000 14,000 800 210,000 Required: 1-a. What is the amount of current liabilities? Current liabilities 1-b. Compute working capital. Working capital 2. Would your computation be different if the company reported $300,000 worth of contingent liabilities in the notes to its financial statements? Yes O No