Required information 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, 2019, adjusted trial balance and other records of Leone Company. $ 675, 480 233,725 56,875 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, 2018 Raw materials, December 31, 2019 Work in process, December 31, 2018 Work in process, December 31, 2019 Finished goods, December 31, 2018 Finished goods, December 31, 2019 $ 28,750 Direct labor 7,250 Income taxes expense 8,600 Indirect labor 33,550 Miscellaneous production costs 102,600 Office salaries expense 7,350 Raw materials purchases 33,000 Rent expense-Office space Rent expense-Selling space 166,850 Rent expense-Factory building 182,000 Maintenance expense-Factory equipment 15,700 Sales 19, 380 Sales salaries expense 167,350 136,490 8,425 63,000 925,000 22,000 26, 100 76,800 35,400 4,462,500 392,560 Problem 14-3A Part 2 2. Prepare the company's 2019 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, 2019 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