Please give detailed answers as to how to find the answers. I have seen several versions of this problem, but not a version that specifically follows the directions for preparing the company's 2017 income statement that follows the instructions given. I already have some of the answer to this question, but I need to verify that I am doing this problem correctly.

The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company.

Advertising expense	$	28,750		Direct labor	$	675,480
Depreciation expenseOffice equipment		7,250		Income taxes expense		233,725
Depreciation expenseSelling equipment		8,600		Indirect labor		56,875
Depreciation expenseFactory equipment		33,550		Miscellaneous production costs		8,425
Factory supervision		102,600		Office salaries expense		63,000
Factory supplies used		7,350		Raw materials purchases		925,000
Factory utilities		33,000		Rent expenseOffice space		22,000
Inventories				Rent expenseSelling space		26,100
Raw materials, December 31, 2016		166,850		Rent expenseFactory building		76,800
Raw materials, December 31, 2017		182,000		Maintenance expenseFactory equipment		35,400
Work in process, December 31, 2016		15,700		Sales		4,462,500
Work in process, December 31, 2017		19,380		Sales salaries expense		392,560
Finished goods, December 31, 2016		167,350
Finished goods, December 31, 2017		136,490

2. Prepare the companys 2017 income statement that reports separate categories for (a) selling expenses and (b) general and administrative expenses.