1. **State the problem:** Calculate the net worth given assets and liabilities. 2. **Formula:** Net worth is calculated as: $$\text{Net Worth} = \text{Total Assets} - \text{Total Liabilities}$$ 3. **Given values:** - Total Assets = 113000 - Total Liabilities = 71500 4. **Calculation:** $$\text{Net Worth} = 113000 - 71500$$ 5. **Simplify:** $$\text{Net Worth} = \cancel{113000} - \cancel{71500} = 41500$$ 6. **Interpretation:** The net worth is 41500, meaning the value of what you own exceeds what you owe by 41500. **Final answer:** $$\boxed{41500}$$