3. The following table shows the assets and liabilities of the Smith family in 2019 and 2020. 2019 2020
Home valued at $200,000 Home valued at $175,000
Mortgage of $60,000 Home equity loan of $20,000
Car valued at $20,000 Car valued at $15,000
Car loan of $10,000 Boat loan of $15,000
Personal loan of $8,000
Based on the table, which of the following is true?
A. From 2019 to 2020, both assets and liabilities increased.
B. From 2019 to 2020, both assets and liabilities decreased.
C. From 2019 to 2020, assets increased, and liabilities decreased.
D. From 2019 to 2020, assets decreased, and liabilities increased.