As we have discussed, the classified balance sheet groups classes of assets, liabilities and equity. The most common classifications used within a classified balance sheet are:

Current assets

Long-term investments

Fixed assets (or Property, Plant, and Equipment)

Intangible assets

Other assets

Current liabilities

Long-term liabilities

Shareholders' or Stockholder's equity

The sum of these classifications equals what? And, are all classified balance sheets categorized the same?