The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each asset and liability account is reported separately on the balance sheet. Choose the appropriate accounts to be reported on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Pacilio Security Services, Incorporated Balance Sheet At December 31, Year 4 Assets Liabilities Stockholders' Equity 0