"If I had to pick one financial statement to use to make a decision about a company, I would choose the cash flow statement. Unlike the balance sheet, which shows the assets and debt of a company at a specific point in time, a cash flow statement shows liquidity and how a company is using and generating cash, which is helpful in determining how the health of the company is currently. On the other hand, I would use an income statement to compare year-on-year and quarter-on-quarter performance and a shareholder's equity statement to see what's been paid into the company and what exists net of assets and liabilities."