THE BALANCE SHEET is the financial statement that reports the assets, liabilities and net worth of a company at a specific point in time. Assets represent the total resources of a company, which may shrink or increase depending on the results of operations. Assets are listed in liquidity order - ease of converting into cash. Get The App. Download the free “New Cannabis Ventures” app on the iOS App Store or Google Play and get real-time push notifications straight to your phone on the latest breaking news and ... Mar 14, 2016 · This week we’ll link income statements and balance sheets. Important economic events affect a firm’s balance sheet and income statement simultaneously. Assessing these economic events, from both balance sheet and income statement perspectives, will almost always help you ask insightful questions about firms’ financial performances.