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

$620,000 356,000 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 20,000 52,000 15,000 3,000 8,000 100,000 8,000 4,000 12,000 700 180,000 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 $320,000 worth of contingent liabilities in the notes to its financial statements? O Yes O No