Diane Corporation is preparing its 2012 balance sheet. The company records show the following selected amounts at the end of the accounting period, December 31, 2012:

Total assets	$	570,000
Total noncurrent assets		348,000
Liabilities:
Notes payable (8%, due in 5 years)		25,000
Accounts payable		51,000
Income taxes payable		12,000
Liability for withholding taxes		2,000
Rent revenue collected in advance		11,000
Bonds payable (due in 15 years)		115,000
Wages payable		11,000
Property taxes payable		7,000
Note payable (10%, due in 6 months)		14,000
Interest payable		700
Common stock		280,000

Required:
1(a)	Compute working capital.(Omit the "$" sign in your response.)

Working capital

$

1(b)	Compute the quick ratio (quick assets are $88,000).(Round your answer to 2 decimal places.)

Quick ratio

2.	Would your computations be different if the company reported $290,000 worth of contingent liabilities in the notes to the statements?
	Yes No