Balance sheet (see exhibit 1.5 in notes) n Assets: essentially anything of value which the company owns n Liabilities: anything the company owes to others n Owner's Equity: the part of the business owned by the investors; another way to look at owners equity is the part of the business owed to the owners or stockholderBalance Sheet (see exhibit 1.5 in notes) Assets: essentially anything of value which the company owns Liabilities: anything the company owes to others Owner’s Equity: the part of the business owned by the investors; another way to look at owners equity is the part of the business owed to the owners or stockholder