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The balance sheet is a financial statement that reports a company’s assets, liabilities, and shareholders’ equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure. 

This is a vital tool as it provides a snapshot of what a company owns, owes, as well as the amount invested by shareholders. In addition, financial analysts use this statement alongside the others to derive useful financial ratios.

To understand the balance sheet, always remember: Assets= Liabilities + Shareholders’ equity 

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