Intermediate Accounting 3 The Balance Sheet and Statement of Changes in Stockholders Equi Elements of the Balance sheet-Assets Assets may be natural or man-made tangible or intangible, and exchangeable or useful only in the companys activitiesElements of the Balance Sheet — Assets Assets may be natural or man-made, tangible or intangible, and exchangeable or useful only in the company’s activities. Intermediate Accounting 3 The Balance Sheet and Statement of Changes in Stockholders’ Equity