BALANCE SHEET

A balance sheet is a financial statement that provides a snapshot of a company's financial position at a 
specific point in time. It consists of three main components: assets, liabilities, and equity. The balance
sheet adheres to the accounting equation: Assets = Liabilities + Equity.

Purpose of the Balance Sheet:
Provides a snapshot of the company's financial health at a specific moment.
Assists in assessing liquidity, solvency, and overall financial stability.
Helps investors, creditors, and analysts in making informed decisions about the company's financial position.

A well-prepared balance sheet is an essential tool for financial analysis and is a key component of a company's 
financial reporting. It is typically included in a set of financial statements along with the income statement 
and cash flow statement.