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( a ) At the beginning of the year, Norton's Travel Service had assets of $ 7 5 , 0 0 0 , and owner's

(a) At the beginning of the year, Norton's Travel Service had assets of $75,000, and owner's equity of $38,000. During the year, assets increased by $18,000, and liabilities increased by $4,000. What was the owner's equity at the end of the year?
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