3.8 pts
Information from Wiggins Company's year-end financial statement is as follows:
2020
2019
Total Assets
$8,000,000
$7,000,000
Total Liabilities
3,800,000
3,000,000
Equity
4,200,000
4,000,000
Net Sales
17,600,000
16,600,000
Cost of goods sold
12,800,000
12,400,000
Operating income
1,100,000
1,000,000
The percentage change in total liabilities from 2019 to 2020 is closest to:
14.3% increase
26.7% increase
21.1% increase
12.5% increase