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Balance sheet data: Current assets=($50,000+$65,000+$70,000)= $185,000, Current Liabilities = $85,000, Working Capital= $100,000
A balance sheet is a financial statement that lists the assets and liabilities of a corporation at a certain point in time.
An organization's assets, liabilities, and shareholder equity are listed on a balance sheet, which is a financial statement. One of the three primary financial statements used to assess a company is the balance sheet. It offers a snapshot of the assets and liabilities of a corporation as of the publication date. A balance sheet provides you with a quick overview of your company's financial situation at any given time. A balance sheet, along with an income statement and a cash flow statement, can aid business leaders in assessing the financial health of their organization. The balance sheet of a corporation offers a wealth of information about its operations and solvency. Assets, liabilities, and equity are the three main elements of a balance sheet. Executives, investors, analysts, and regulators utilize the balance sheet as a crucial tool to comprehend the current financial condition of a corporation. It frequently coexists with the income statement and the cash flow statement, the other two categories of financial statements.
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