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Cauce Corporation is preparing its year - end balance sheet. The company records show the following selected amounts at the end of the year: 1

Cauce Corporation is preparing its year-end balance sheet. The company records show the following selected amounts at the end of
the year:
1-a. What is the amount of current liabilities?
1-b. Compute working capital.
Would your computation be different if the company reported $280,000 worth of contingent liabilities in the notes to its financial
statements?
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