Which financial statement summarizes a company’s liabilities, assets, and equity?

The Balance Sheet is the financial statement that summarizes a company’s liabilities, assets, and equity at a specific point in time. It provides a snapshot of what the company owns and owes, along with the owners' equity in the business.

Assets listed on the balance sheet include everything the company owns, such as cash, inventory, and property. Liabilities represent what the company owes to outside parties, such as loans and accounts payable. Equity reflects the owners' residual interest in the company after liabilities have been deducted from assets, representing their claim on the company's net worth.

This statement is critical for stakeholders as it helps them assess the financial health and capital structure of the company. In contrast, the Income Statement focuses on revenue and expenses over a period, while the Cash Flow Statement centers on cash inflows and outflows. The Profit and Loss Statement is essentially another term for the Income Statement, which again does not provide a comprehensive view of assets, liabilities, and equity like the Balance Sheet does.