What is the purpose of a Balance Sheet? What information does it provide?

I agree that the balance sheet informes stakeholders as to the position of the company's debts vs. assets. Business decision makers utilize the balance sheet to determin the value of a corporation. The actual "bottom line" often referred to in the business culture today is the net income or net loss which are found on the income statment. Stackholders want to know how profitable a decision in a company will be, thus how much drops to the "bottom line" of the income statment. The balance sheet is an overall snapshot of the tangible net worth of a corporation. http://www.investopedia.com/terms/b/balancesheet.asp#axzz1u1VMJqKL  This link is to investopedia and provides more information on the purpose of a balance sheet.