Let's analyze the data provided to determine the correct statement.
First, we will calculate the total assets and liabilities for the years 2007 and 2008.
### Year 2007
#### Assets:
1. Home value: [tex]$315,000
2. Car value: $[/tex]10,000
3. Savings: [tex]$2,000
The total assets for 2007 are:
\[ 315,000 + 10,000 + 2,000 = 327,000 \]
#### Liabilities:
1. Mortgage: $[/tex]265,000
2. Car loan: [tex]$5,000
The total liabilities for 2007 are:
\[ 265,000 + 5,000 = 270,000 \]
### Year 2008
#### Assets:
1. Home value: $[/tex]325,000
2. Car value: [tex]$6,000
3. Credit card debt (considered as a negative asset): $[/tex]-1,500
The total assets for 2008 are:
[tex]\[ 325,000 + 6,000 - 1,500 = 329,500 \][/tex]
#### Liabilities:
1. Mortgage: [tex]$240,000
2. Car loan: $[/tex]1,000
The total liabilities for 2008 are:
[tex]\[ 240,000 + 1,000 = 241,000 \][/tex]
### Changes from 2007 to 2008
#### Change in Assets:
[tex]\[ 329,500 - 327,000 = 2,500 \][/tex]
This indicates that the total assets increased by [tex]$2,500 from 2007 to 2008.
#### Change in Liabilities:
\[ 241,000 - 270,000 = -29,000 \]
This indicates that the total liabilities decreased by $[/tex]29,000 from 2007 to 2008.
### Conclusion
From the calculations:
- Total assets increased by [tex]$2,500.
- Total liabilities decreased by $[/tex]29,000.
Thus, the correct statement that describes the change from 2007 to 2008 is:
d. From 2007 to 2008, assets increased and liabilities decreased.
