E9-1 (Algo) Identifying Current Liabilities, Computing Working Capital, and explaining Working Capital LO 9-1.9-4.9-5 Diane Corporation is preparing its year-end balance sheet. The company records show the following selected amounts at the end of the year Tatat assets Total noncurrent assets Liabilities: Notes payable (due in 5 years) Accounts payable Income taxes payabil Liability for withholding taxes Rent revenue collected in advance Bonds payable (due in 15 years) Wages payable Property taxes payable Note payable (105, due in 6 months) Interest payable Common stock $570,000 322,00 20,000 50,000 13,000 3,000 10,000 111.000 10.000 6.ee 15.000 600 290,000 Required: 1-a. What is the amount of current liabilities? Current liabiltos 1.b. Compute working capital Working capita 2. Would your comutation be different if the company reported $320.000 worth of contingent liabilities in the notes to its financial statements? Yes No