What is a Balance Sheet? Explain the classification of items depicted in a Balance Sheet? Supplement you answer with figures extracted from a Balance sheet of any listed company.

A Balance Sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time. It is a crucial component of a company's financial reporting, offering insights into its assets, liabilities, and shareholders' equity. The Balance Sheet adheres to the accounting equation: Assets = Liabilities + Equity. This equation signifies that a company's assets are funded by a combination of debt (liabilities) and equity (ownership).

The Balance Sheet is divided into two main sections: assets and liabilities + equity. Each section is further classified into current and non-current items based on their liquidity or maturity.

1. Assets:
   - Current Assets: These are assets expected to be converted into cash or used up within one year. Examples include cash, accounts receivable, inventory, and short-term investments.
   - Non-Current Assets: Also known as long-term assets, these are resources expected to provide economic benefits beyond one year. Examples include property, plant, equipment, intangible assets, and long-term investments.

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