How do I know if a balance sheet is required for a business? I am in NY State. Also, Turbo Tax keep sendnig me to k-1 Entry Wks-Partnership; I do not have a k-1

How do I know if a balance sheet is required for a business?  I am in NY State.  Also, Turbo Tax keep sendnig me to k-1 Entry Wks-Partnership - Worksheet to Enter Partners Share of Income, Deductions, Credit, etc.  I did not receive a K-1 from anyone.