Diane Corporation is preparing its year-end balance sheet. The company records show the following selected amounts at the end of the year: Wages payable Total assets Total noncurrent assets Liabilities: Notes payable (8%, due in 5 years) Accounts payable Income taxes payable Liability for withholding taxes. Bonds payable (due in 15 years) Property taxes payable $590,000 304,000 23,000 52, 000 11,000 5,000 Rent revenue collected in advance 7,000 104, 000 7,000 3,000 Note payable (10 %, due in 6 months) Interest payable 15,000 700 Common stock 170,000 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 liabilities in the notes to its financial statements? 00 Yes No