Which of the following statements is correct?

Multiple Choice

On the income statement, Total Assets must always equal Total Liabilities.

The Net Income reported on the Income statement cannot be negative.

New working capital is positive when Fixed Assets exceeds Long$-$term Debt.

The balance sheet identity can also be expressed as "Shareholders' equity $=$ Total Assets $-$ Total Liabilities".

The Balance sheet is a financial statement that measures the flow of funds into and out of various accounts over time.