Chapter 3: The Income Statement - Match the term with the correct definition. The amount of money received by a company during a specific period. Typically calculated as price times quantity sold. Also know as sales. Direct costs attributable to the production of goods or services including raw materials and labor. Revenues minus cost of goods sold. Expenditures that result from normal business operations. A way to allocate the cost of an asset over its life. Paying off a debt in regular installments over time. Gross profit minus SG&A and leases. Gross profit minus all operating expenses. Revenues minus all expenses except taxes. A company's total profit calculated by revenue minus expenses, depreciation, interest and taxes. A. cost of goods sold B. gross profit C. revenue D. depreciation E. operating profit or EBIT F. assets G. Net income or net profit H. Net profit before taxes 1. EDITDA J. liabilities K. amortization L operating expenses