COMPANY JK CLASSIFIED BALANCE SHEET AS OF DECEMBER 31, 2020 Assets Liabilities & Equity Current assets: Current liabilities: Total current assets Total current liabilities Property, plant and equipment: Long-term liabilities: Total property, plant and equipment Total long-term liabilities Total of all liabilitlies Equity: Total equity | Total of all assets Total of all liabilities & equity_

Financial statement is prepared from the trial balance which include :-

1. Profit and loss and other comprehensive income statement where all revenue and expenses will be shown and net profit or loss is calculated.
2. Statement of financial position where all the assets , liabilities and equities has been shown.

Trial balance means a statement which include all the debit or credit balances of accounts from ledgers and should match as so to pass the test of equality of debit and credit.