The substance produced by the liver is bile, a greenish-brown fluid that aids in the digestion and absorption of fats. Bile is composed of bile salts, cholesterol, bilirubin, water, and electrolytes. It is stored in the gallbladder and released into the small intestine when food, particularly fatty food, is consumed. Bile facilitates the breakdown of large fat globules into smaller droplets, increasing the surface area for enzymes to act upon, thereby enhancing the digestion of dietary fats. The liver also plays a critical role in metabolism and detoxification.