Luke 15:31 Meaning

29And he answering said to his father, Lo, these many years do I serve thee, neither transgressed I at any time thy commandment: and yet thou never gavest me a kid, that I might make merry with my friends:

30But as soon as this thy son was come, which hath devoured thy living with harlots, thou hast killed for him the fatted calf.

31And he said unto him, Son, thou art ever with me, and all that I have is thine.

32It was meet that we should make merry, and be glad: for this thy brother was dead, and is alive again; and was lost, and is found.