The question
"Two stalls sell the same vada pav at the same ₹15. One saves the country's best location. The other shuts down in eight months. Same revenue — different everything. Where does the difference hide?"
The Profit & Loss statement (P&L, income statement) is the video, while the balance sheet was the photograph: it shows a period — usually a year — of money coming in, money going out, and what survived. Reading it well is the single most useful skill in fundamental analysis.