Question

The financial statement that reports assets liabilities and stockholders Equity as of the last day of the is called:_____.1. Balance Sheet.

2. Income Statement.
3. Statement of Cash Flows.

Answer 1

1. Balance Sheet.

Step-by-step explanation:

The balance sheet shows the Assets, Liabilities and stockholders equity at the end of a period.

Balance Sheet shows the financial position of a business. The balance sheet follows the concept of the Accounting equation as follow

Assets = Stockholders equity + Liabilities

Formate of a balance sheet is attached with the answer please find it