E9-1 (Algo) Identifying Current Liabilities, Computing Working Capital, and Explaining Working Capital LO 9-1, 9-4, 9-5 Cauce 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: Notes payable (81, due in 5 years) Accounts payable Income taxes payable Liability for withholding taxes Rent revenue collected in advance $560,000 334,000 22,000 52,000 14,000 5,000 12,000 Bonds payable (due in 15 years) Wages payable 115,000 12,000 Property taxes payable 8,000 Interest payable Note payable (10%, due in 6 months) 15,000 600 Common stock Required: 150,000 1-a. What is the amount of current liabilities? 1-b. Compute working capital. 2. Would your computation be different if the company reported $320,000 worth of contingent liabilities in the notes to its financial statements? Complete this question by entering your answers in the tabs below. Required la Required 1b Required 2 What is the amount of current liabilities? Current liabilities ces Required: 1-a. What is the amount of current liabilities? 1-b. Compute working capital. 2. Would your computation be different if the company statements? Complete this question by entering your answers in Required 1a Required 1b Required 2 Compute working capital. Working capital Complete this question by entering your answers in the tabs below. Required la Required 1b Required 2 Would your computation be different if the company reported $310,000 worth of contingent liabilities in the notes to its financial statements? Yes ONO