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The speaker met with a realtor who needed financing but had been declined by multiple banks. They went over the realtor's profit and loss statement, which prompted tears. The tutorial will explain how to create a profit and loss statement, its importance, and provide a template for viewers. A profit and loss statement, or P&L, shows gross sales minus costs and fixed expenses over a period of time. P&L statements are important for tracking financial performance and making business decisions.
