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A balance sheet is one of the three main financial statements (along with the income statement and cash flow statement) used to evaluate a company's financial health. It provides a snapshot of a company's assets, liabilities, and shareholders' equity at a specific point in time.
The balance sheet follows the equation: Assets = Liabilities + Shareholders' Equity. Assets include everything a company owns that has value, including cash, accounts receivable, and property. Liabilities include all the company's debts, like loans and accounts payable. Shareholders' equity is the net amount of the company's total assets minus its total liabilities. Reviewing a company's balance sheet can provide valuable insights into its financial stability and liquidity.
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