Required information (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 $ 26,600 Direct labor 10,500 Income taxes expense 10,300 Indirect labor 35, 200 Miscellaneous production costs 127,800 office salaries expense 7,600 Raw materials purchases 41,000 Rent expense-office space Rent expense-Selling space 157, 100 Rent expense-Factory building 184,000 Maintenance expense-Factory equipment 16, 600 Sales 22,100 Sales salaries expense 167,800 136, 600 $ 671,900 269,000 55,300 11,400 74,000 982,000 25,000 28,500 76,500 37,000 4,575, 800 395, 200 Required information 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 Required information , Total selling expenses General and administrative expenses Total general and administrative expenses Total operating expenses Income before taxes Net income