Which of the following statements is correct? C . The balance sheet for a given year, say 2005, is designed to give us an idea of what A) happened to the firm during that year. The difference between the total assets reported on the balance sheet and the debts reported on the statement tells us the current market value of the stockholders equity assuming the statements are prepared in accordance with generally accepted accounting principles (GAAP). B) A typical industrial company's balance sheet lists the firm's most liquid assets first, and C) then goes on down to the longest-lived assets. For most companies, the market value of the stock is listed on right-hand side of the D) the balance sheet