Ten day MBA Chapter 3 (financial statement)

Financial Statements include three big parts:
the balance sheet, the income statement and the statement of cash flows.
The balance sheet
It presents the assets owned by the company, the liabilities owed to others, and theaccumulatedinvestment of its owners. The balance sheet is the foundation for all accounting records, and it includes assets(cash, inventory, customers receivables, equipment, buildings), liabilities (bank debt,amounts owed to suppliers, prepaid accounts, taxes owed and wages owed to employees) and owner's equity(common stock, additional paid, retained earnings)
Assets = liabilities + owner's equity
Some concepts I am not familiar with, such as
Liquidity: it means the ability of an asset to be converted to cash. Current liquidity includes cash, accounts receivable from customers and inventory. Long-term liquidity includes property, machine, equipment.
Working capital: current assets -current liabilies = net working capital
Owner's equity
The income statement, shows the flow of activity and transcations over specific period. There are revenues from sales and expenses relation to those revenues. When revenues and expenses are properly matched using accrual accounting, the difference is income.
Gross Margin=sales-the direct cost of the goods or services sold
Beginning inventory + newe purchases - ending inventory = cost of goods sold
Assets=liabilities+Owner's Equity
CA+NCA=CL+NCL+OE
NCA=CL+NCL+OE