Definitions

Total current assets: This is any cash or asset that can be quickly turned into cash. This includes prepaid expenses, accounts receivable, most securities and your inventory.
Total current liabilities: This is a liability in the immediate future. This includes wages, taxes, and accounts payable.
Total long term assets: This includes buildings and equipment (less depreciation), real estate and other assets that are not readily turned into income or cash.
Total long term liabilities: This includes mortgage, deferred taxes, notes payable and other long term liabilities.
Sales: Total sales for the period.
Receivables: Total balance in your accounts receivable.
Cost of goods sold: This is the total cost of the raw materials, supplies and labor required to produce your product for the period.
Operating expenses: Your selling, administrative and other expenses used to run your business but not directly associated with the creation of you product.
Interest expense: Your total interest expense for the period.
Inventory: Total inventory which includes normal inventory, safety stock and work in process.
Other income: Any other income your company receives that was not through its operations. This includes the sale of appreciated property or securities.
Gross profits: Gross profits are your profits for the period before operating expenses, fixed expenses, taxes or interest. This is calculated as your sales minus your cost of goods sold.
Operating income: Total income generated from your operations, after operating expenses but before interest and taxes.
Net income before taxes: Your income before taxes. This amount includes income not generated directly from your operations such as income generated from financial investments.