Yes, Per Page 21 of the IRS Instructions linked to below, Corporations with total receipts
(page 1, line 1a plus lines 4 through 10)
and total assets at the end of the tax year
less than $250,000 are not required to
complete Schedules L, M-1, and M-2 if the
“Yes” box on Schedule K, question 13, is
checked. (that would include the balance sheet).
https://www.irs.gov/pub/irs-pdf/i1120.pdf
