Total Assets Liabilities Equity
Total Assets Liabilities Equity refers to the financial statement that shows a company's total assets, total liabilities, and total equity. Assets are resources owned by the company, such as cash, inventory, and property. Liabilities are debts and obligations owed by the company, such as loans and accounts payable. Equity represents the company's net worth, calculated as assets minus liabilities. This statement provides a snapshot of the company's financial position at a specific point in time.