$ 679,000 293,800 Advertising expense Depreciation expense office equipment Depreciation expense Selling equipment $ 31,700 Direct labor 11,300 Income taxes expense 10,800 Indirect labor 37,600 iscellancous production costs 11,500 10,000 Raw materials purchases 55,300 iation expensc Factory3 equipment Factory supervision Factory supplies usecd Factory utilities Inventories 146,800 Office salaries expense 3,000 Rent expense Office space 21,000 Rent expense selling space Raw materials, Deceber 31, 2016 Raw materials, Deceber 31, 2017 Work in 31, 2016 Work in process 31, 2017 Finished goods 2016 Finished goods, December 31, 2017 29,800 82,100 36,200 4,555,100 390,900 169,200 Rent expense Factory building Maintenance expense Factory 185,000 proceas,December 16,900 Sale 22,400 Sales salaries expense ,December 31164,500 141,500 2. Prepare the company's 2017 income statement that reports separate categories for (a) selling expenses and (b) general and administrative expenses. 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