Final answer:
The financial statement that reports assets, liabilities, and stockholders' equity is known as the balance sheet, which offers a snapshot of a company's financial position at a specific point in time.
Step-by-step explanation:
The financial statement that reports assets, liabilities, and stockholders' equity as of the last day of the period is called the balance sheet.
A balance sheet is an essential accounting tool that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. It lists assets, such as cash and real estate, and liabilities, like loans and mortgages. The difference between assets and liabilities shows the net worth or bank capital of the entity. This financial statement is formatted in a two-column T-account style, which helps in understanding and visualizing the financial position of the business. The balance sheet is crucial for investors, creditors, and internal management to make informed decisions about the company.