Diane Corporation is preparing its year-end balance sheet. The company records show the following selected amounts at the end of the year: $ 620,000 342,000 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 17,000 54,000 13,000 2,000 8,000 112,000 8,000 4,000 14,000 700 200,000 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 $280,000 worth of contingent liabilities in the notes to its financial statements? Yes No