The layout of a balance sheet reflects the basic accounting equation: Assets = Liabilities + Owners' Equity. with assets listed on the left side and liabilities and equity detailed on the right. Consistent with the equation, the total dollar amount is always the same for each side. In other words, the left and right sides of a balance sheet are always in balance.
Hurricane Ike was the first hurricane to hit the Houston area since Hurricane Jerry in October of 1989 and the first big hurricane to hit since Hurricane Alicia in 1983. Ike is the hurricane that changed the Saffir-Simpson scale, the scale that rates how strong a hurricane is, as we know it.
Nowhere was Ikeâs impact more evident than on Galveston Island, which had not seen such devastation since the hurricane of 1900. Eighty percent of the city's homes and almost all of its operating infrastructure were damaged by Ikeâs high winds and devastating flooding.