Diane Corporation is preparing its year-end balance sheet. The company records show the following selected amounts at the end of the year: $630,000 320,000 15,000 To al ussels Toal noncurrent assets liabilities: Notes payable (8%, due in 5 years) Accounts payable Income Taxus blu Liability for w.ticho dins laxes Rent revenue collected in advance llands payable (due in 15 years) Wares payable Property taxes payable Noto payable (10%, Luc in 6 months Interest puyable Comon slock 13,000 1.000 10,000 100,000 10,000) 16,000 800 190,000 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 $250,000 worth of contingent llabilities in the notes to Its financial statements? Yes No