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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 $570,000 360.000 Total

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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 $570,000 360.000 Total assets Total noncurrent assets Liabilities: Notes payable (e, 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 19,000 55,000 15,000 2,000 11,000 105,000 11,000 7.000 14,000 500 220,000 Required: 1-0. What is the amount of current liabilities? Current lobules 1-b. Compute working capital Working copa 2. Would your computation be different if the company reported $290,000 worth of contingent liabilities in the notes to its financial statements Yes NO

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