Preparing the 2017 income statement.

Advertising expense Depreciation expense-Office equipment $ 32, 120 Direct labor preciation expense-Selling equipment 9,409 Income taxes expense 693,420 55.2 Depreciation expense-Factory equipment 9,909 Indirect labor Factory supervision 35,090 Miscellaneous production costs Factory supplies used 134, he0 Office salaries expense 9,500 Raw materials purchases 73,800 Factory utilities 342, 090 Inventories 45,090 Rent expense office space 21,009 Raw materials, December 31, 2016 Rent expense-Selling space 30, 090 166,900 Rent expense-Factory building 82, 400 Raw materials, December 31, 2017 188, 090 Maintenance expense-Factory equipment 39, 70e work in process, December 31, 2016 Work in process, December 31, 2017 17,100 Sales 4,575,500 Finished goods, December 31, 2016 18, 309 Sales salaries expense 190, 200 157, 308 Finished goods, December 31, 2017 143,509 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 rsome before taxes Net income