9-1 (Algo) Identifying Current Liabilities, Computing Working Capital, and Explaining Working Capital 09-1, 9-4, 9-5 ane Corporation is preparing its year-end balance sheet. The company records show the following selected amounts at the end of e year $570,000 324,000 Total assets Total noncurrent assets Ciabilities: 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 ommon stock 19,000 52,000 12,000 2,000 8,000 117,000 8.000 4,000 15,000 800 130,000 quired: What is the amount of current liabilities? tentabilities . Chec Required: 1-0. What is the amount of current liabilities? 1-b. Compute working capital 2. Would your computation be different if the company reported $250,000 worth of contingent liabilities in the notes to its financial statements Yes No