The following table shows the assets and liabilities of the Smith family in 2005 and 2009.20052009home valued at $200,000home valued at $180,000mortgage of $30,000home equity loan of $18,000car valued at $25,000car valued at $18,000car loan of $8,000boat valued at $20,000 personal loan of $5,000Based on the table, which of the following is true?
Answer
A
From 2005 to 2009, both assets and liabilities decreased.
B
From 2005 to 2009, both assets and liabilities increased.
C
From 2005 to 2009, assets decreased and liabilities increased.
D
From 2005 to 2009, assets increased and liabilities decreased.