# Chapter 5 - Balance Sheet and Statement of Cash Flows - Review and Practice - Brief Exercises - Page 239: BE5-7

Current liabilities: Notes payable $22,500 Add: Accounts payable$72,000 Add: Salaries and wages payable $4,000 Add: Income taxes payable$7,000 Total Current liabilities $105,000 #### Work Step by Step Total current liabilities for Thomas Corporation: =$105,000

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