Check Problem 14-3A Schedule of cost of goods manufactured and income statement; Inventory analysis LO P2, A1 [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 Advertising expense Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories Raw materials, December 31, 2016 Raw materials, December 31, 2017 Work in process, December 31, 2016 Work in process, December 31, 2017 Finished goods, December 31, 2016 Finished goods, December 31, 2017 $ 26,900 Direct labor 12,000 Income taxes expense 10,400 Indirect labor 31, 900 Miscellaneous production costs 120, 700 office salaries expense 10,000 Raw materials purchases 33,000 Rent expense-office space Rent expense-Selling space 154, 800 Rent expense-Factory building 175,000 Maintenance expense-Factory equipment 18,300 Sales 20, 800 Sales salaries expense 167, 400 141,400 $ 688,200 280,000 59, 200 10,000 71,000 965,000 21,000 27,200 79,400 36,900 4,526,900 398,500 ter 14: Homework Saved Help Sa Problem 14-3A Part 2 2 of 2 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 Book Cost of goods sold Print Goods available for sale Cost of goods sold Operating expenses 5 Required information Operating expenses Selling expenses Part 2 of 2 16.66 points eBook Print Total selling expenses General and administrative expenses Total general and administrative expenses Total operating expenses 5 Required information Part 2 of 2 16.66 points Total selling expenses General and administrative expenses eBook print Total general and administrative expenses Total operating expenses Income before taxes Net income