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

Total assets $ $630,000$

Total noncurrent assets $356,000$

Liabilities:

Notes payable $(8\%,$ due in $5$ years$)17,000$

Accounts payable $51,000$

Income taxes payable $12,000$

Liability for withholding taxes $4,000$

Rent revenue collected in advance $10,000$

Bonds payable $($due in $15$ years$)96,000$

Wages payable $10,000$

Property taxes payable $6,000$

Note payable $(10\%,$ due in $6$ months$)16,000$

Interest payable $700$

Common stock $180,000$

Required:

$1-$a$.$ What is the amount of current liabilities?

$1-$b$.$ Compute working capital.

$2.$ Would your computation be different if the company reported $$270,000$ worth of contingent liabilities in the notes to its financial statements? What is the amount of current liabilities?