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Mead called the part of the self that is socialized the
Profit and Loss Ratio
An indicator that measures the ratio of profits earned to losses incurred over a particular period, often used to assess a company's financial health.
Income Summary
A temporary account in the ledger that summarizes revenue and expenses and transfers the balance (net income or net loss) to Capital. This account does not have a normal balance, i.e. it could have a debit or a credit balance.
Capital Balances
The amounts recorded in the capital accounts of a company or partnership, reflecting the initial capital contributions and subsequent changes including profits earned and withdrawals.
Losses
Financial reductions resulting from business activities, such as the sale of assets for less than their book value or operational losses.
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