What is the purpose of the balance sheet? What information docs a balance sheet provide? Is the balance sheet a flow or position report? Answer "Flow" or "Position" and then Briefly explain your answer. What are the 2 primary categories of "Assets?" What is the "order" in which the asset accounts are listed? How do "cash equivalents" differ from "marketable securities?" Define liquidity Also answer Chapter 2 "Concepts Review And Critical Thinking" Question # 1 (textbook page 42). What are the 3 primary categories of "Liabilities and Owners Equity?" What is the "order" in which the liability and owner's equity accounts are listed? Give an example of a balance sheet "contra account." What is the corresponding "primary" balance sheet account? What is the corresponding "expense?" What is the difference between "Common Stock at Par Value" and "Common Stock Additional Paid In Capital?" The three standard financial statements are linked. The balance sheet is linked to which other financial statement(s), and what are the specific line items and/or accounts that are linked? If an oil firm (e.g., Exxon-Mobil) reports $20 million of retained earnings on its balance sheet, would the firm's board of directors be acting in the best interest of the shareholder's by declaring a $20 million cash dividend? Answer "Yes" or "No." Briefly explain your