Mark Jenkins is an analyst who is comparing companies in the telecommunications industry. His next step is to analyze each company’s short- and long-term assets vs. respective short- and long-term debts. Which financial statement should Mark use to find this information?

The answer is balance sheet.

Explanation:

Balance sheet also known as the Financial position tells us about the position of a company in terms of its liabilities and assets.

Since Mark Jekins is looking analyze each company’s short- and long-term assets vs. respective short- and long-term debts, the best statement is balance sheet.

Balance sheet contains Current e.g cash, inventory etc. and non-current asset e.g property plant and equipment.

It also contains current liability (accounts payable) and non-current liability (bonds).

It also contains equity.

a corporation is legally separate from its owner, and it pays its own taxes.

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