What financial statement shows a company's assets, liabilities, and equity?

What financial statement shows a company's assets, liabilities, and equity? The balance sheet shows a company’s assets, liabilities, and equity.

It is a snapshot of financial position at a specific date, such as the end of a quarter or financial year. Assets include resources such as cash, inventory, property, equipment, and receivables. Liabilities include obligations such as accounts payable, loans, and taxes owed. Equity represents the residual interest belonging to owners after liabilities are deducted.

The statement is built around the accounting equation: assets equal liabilities plus equity. This relationship is a consequence of double-entry bookkeeping, in which transactions preserve the balance between what a company owns and how those resources are financed.

The balance sheet is often confused with the income statement. The balance sheet reports position at one moment, while the income statement reports revenues, expenses, and resulting profit or loss over a period. A balance sheet may also be called a statement of financial position.