Financial Statement #1 is the Balance Sheet:
-Shows a list of Assets, Liabilities, and Equity and all account balances. In Quickbooks, you can click on the Total for each account to see a list of all the transactions that posted during your requested time frame
-Groups together all Assets and the total
-Groups Liabilities and Equity together and the total between the two
-Shows Net Income and how much equity the business has (net worth)