1. Problem statement: Compute $5423 + 4700$ and determine whether it equals $70123$. 2. Write the numbers aligned by place value and add column by column. 3. Add the ones: $3 + 0 = 3$. 4. Add the tens: $2 + 0 = 2$. 5. Add the hundreds: $4 + 7 = 11$, so write $1$ in the hundreds place and carry $1$ to the thousands. 6. Add the thousands including the carry: $5 + 4 + 1 = 10$, so write $0$ in the thousands place and carry $1$ to the ten-thousands. 7. Combine the digits to get the sum $10123$. 8. Compare with $70123$: $10123 \neq 70123$, so the two are not equal. Final answer: $5423 + 4700 = 10123$.