How do liabilities, owners’ equity, and working capital describe a firm’s financial position?

"Liabilities are what a firm owes to its creditors; also called debts. Long-term liabilities are claims that come due more than one year after the date of the balance sheet. Owners’ equity is the total amount of investment in the firm minus any liabilities; also called net worth. Net working capital is the amount obtained by subtracting total current liabilities from total current assets; used to measure a firm’s liquidity. Liquidity is the speed with which an asset can be converted to cash. Intangible assets are long-term assets with no physical existence, such as patents, copyrights, trademarks, and goodwill."