Which of the following is NOT a component of the balance sheet?

The balance sheet is a financial statement that presents a company's financial position at a specific point in time. It consists of three main components: assets, liabilities, and equity. Assets are resources owned by the company, liabilities represent the obligations the company owes to outside parties, and equity reflects the owners' residual interest in the assets after deducting liabilities.

Total revenues, on the other hand, are not part of the balance sheet; they are found on the income statement. The income statement summarizes a company's revenues and expenses over a certain period, showing how much profit or loss was generated. Since total revenues relate to the performance of the business during a time period rather than a snapshot of its financial standing at a given moment, it does not belong on the balance sheet. Thus, identifying total revenues as not being a component of the balance sheet is accurate, as it fundamentally belongs in a different financial statement that reflects operational performance rather than financial position.