The balance sheet template is one of the most important financial statements of the business. Basically, this is the statement of the assets and liabilities of a business on a certain day. The assets side includes list-wise details of all the current and long-term assets. Whereas, on the other hand, all current and long-term liabilities are mentioned along with details about retained earnings. Moreover, the final values shown on a balance sheet are then used for calculating different financial ratios and making business decisions. Moving further, a balance sheet is often prepared every six months or a year, which primarily…