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 $ 530,000
total noncurrent assets 362,000
liabilities:
notes payable (8%, due in 5 years) 15,000
accounts payable 56,000
income taxes payable 14,000
liability for withholding taxes 3,000
rent revenue collected in advance 7,000
bonds payable (due in 15 years) 90,000
wages payable 7,000
property taxes payable 3,000
note payable (10%, due in 6 months) 12,000
interest payable 400
common stock 100,000
required:
1-a. what is the amount of current liabilities?

Lillypad toys is a manufacturer of educational toys for children. six months ago, the company's research and development division came up with an idea for a unique touchscreen device that can be used to introduce children to a number of foreign languages. three months ago, the company produced a working prototype, and last month the company successfully launched its new device on the commercial market. what should lillypad's managers prepare for next? a. increased competition from imitators b. a prolonged period of uncontested success c. a sharp decline in demand for the product d. a difficult struggle to move from invention to innovation