Balance Sheet - Describe the purpose of the balance sheet

1) Describe the purpose of the balance sheet and how this information is useful to the stakeholders of the corporation.  

2) Please describe the information presented on the statement of cash flows.  Why is this information important for the stakeholders of a corporation? 

In 500 words or more

Use at least three sources. Include at least 3 quotes from your sources enclosed in quotation marks and cited in-line by reference to your reference list. Cite your sources. Do not copy. Write in essay format not in bulleted, numbered or other list format.