TOTAL LIABILITIES is all the obligations of the company, i.e. includes Total Current Liabilities, Long Term Debt, and any other miscellaneous liabilities the entity may have listed separately.
TIC is Total Invested Capital.
PROFIT AND LOSS STATEMENT (P&L) is also known as an income statement. It shows your business revenue and expenses for a specific period of time. The difference between the total revenue and the total expense is your business net income. A key element of this statement, and one that distinguishes it from a balance sheet, is that the amounts shown on the statement represent transactions over a period of time while the items represented on the balance sheet show information as of a specific date (or point in time).
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