Most business owners read one financial report: the profit and loss statement. It answers the question everyone asks first. Did we make money? The balance sheet usually gets skipped. It looks like a list of accounts with no story attached, and it doesn't change much from month to month, so it's easy to assume it isn't telling you anything. It is. The P&L tells you how the year went. The balance sheet tells you where the year left you. And it's the first report your tax prepar