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 $620,000 Total noncurrent assets 322,000 Liabilities Notes payable (88, due in 5 years) Accounts payable Income taxes payable Liability for withholding taxes Rent revenue collected in advance 24,000 50,000 13,000 2,000 9,000 118,000 9,000 Bonds payable (due in 15 years) Wages payable Property taxes payable Note payable (10%, due in 6 months) Interest payable 5,000 16,000 800 Common stock 250,000 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 $260,000 worth of contingent liabilities in the notes to its financial statements? Yes No