Oriole Company is owned by Rachel Oriole. The company had total assets of $890,000 and total liabilities of $535,000 at the
beginning of the year. Answer each of the following independent questions:
(a) During the year, total assets increased by $130,000 and total liabilities decreased by $78,000. What is the amount of owner's
equity at the end of the year?
Owner's equity
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