Computer connected to a LAN (Local Area Network) can .......

Computer connected to a LAN(Local Area Network) can Share information and/or share peripheral equipment.

Most private computers have a public folder. By default, all users of a private computer have access to the public folder and the information stored in it. ... It is possible to share this folder over a shared network with other computers as well. A shared network would mean a common Wi-Fi or LAN connection.

Workstations can share peripherals devices like printers. Cheaper that providing a printer for each computer.  Workstations do not necessary need their own hard disk or CD-ROM drives which make them cheaper to buy than stand-alone PC. User can save their work centrally on the network’s file server.