1. prepare the companies 2017 schedule of cost of goods manufactured

2. prepare the companies 2017 income statement that reports separate categories for (a) selling expenses and (b) General and administrative expenses

Required information The following information applies to the questions displayed below. The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company. 681,00 Advertising expense Depreciation Depreciation expense Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories $32,500 Direct labor expense-office equipment 10,600 Income taxes expense 10,600 Indirect labor 34,900 Miscellaneous production costs 289,900 ss,70 11,500 61,004 931,000 27,004 25,300 79,600 35,200 115,400 Office salaries expense 8,400 Raw materials purchases 30,000 Rent expense office space Rent expense Selling space Raw naterials, December 31, 2016 Raw naterials, December 31, 2017 Nork in process,December 31, 2016 Nork in process, December 31, 2017 Pinished goods, December 31, 2016 Finished goods, December 31, 2017 159,100 Rent expense-Factory building 180,000 Maintenance expense-Factory equipment ,505,500 18,700 Sales 20,800 Sales salaries expense 393,100 168,600 136,300 Required 1. Prepare the company's 2017 schedule of cost of goods manufactured LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31, 2017 Direct materials Raw materials inventory, December 31, 2016 Raw materials purchases Raw materials available for use Less: Raw materials inventory, December 31, 2017 Direct materials used irect labor Factory overhead Factory supervision Factory supplies used Indirect labor Rent expense Factory building Maintenance expense-Factory equipment Depreciation expense Factory equipment Miscellaneous production costs Factory utilities Total factory overhead costs Total manufacturing costs Add: Work in process inventory, December 31, 2016 Total cost of work in process ess: Work in process inventory, December 31, 2017 Cost of goods manufactured 2. Prepare the company's 2017 income statement that reports separate categories for (a) selling expenses and (b) general and administrative expenses. LEONE COMPANY Income Statement For Year Ended December 31, 2017 Cost of goods sold Goods available for sale Cost of goods sold Operating expenses Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses Total operating expenses Income before taxes Net income