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

Total assets Total noncurrent assets Liabilities $600,000 336,000 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 19,000 51,000 11,000 4,000 12,000 117,000 12,000 8,000 13,000 400 210,000 Common stock 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? O Yes No