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Diane Corporation is preparing its year-end balance sheet. The company records show the following selected amounts at the end of the year: Required: 1-a. What

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Diane Corporation is preparing its year-end balance sheet. The company records show the following selected amounts at the end of the year: Required: 1-a. What is the amount of current llabilities? 1.b. Compute working capital. 2. Would your computation be different if the company reported $310,000 worth of contingent liabilities in the notes to its financial statements? Yes No

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