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 $ 34,200 Direct labor 11,200 Income taxes expense 10.000 Indirect labor 31,300 Miscellaneous production coats 137,000 office salaries expense 9.200 Raw materials purchases 43,000 Rent expense office space Rent expense selling space 166.200 Rent expense Factory building 192.000 Maintenance expense-Factory equipment 18.200 Sales 19,800 Sales salaries expense 163.600 138.800 $ 682,500 285,700 59,900 9.200 68,000 935,000 27,000 25,900 77.800 37.100 4,595,400 395.900 / LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31, 2017 / 11 / / / / / / / / / / / / / / / / / / / / / DI / / / / / / / 1 / / / / / / / / / / / / / / / Raw materials available for use Direct materials Direct materials used Factory overhead Total factory overhead costs Total manufacturing costs Total cost of work in process ences 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 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 0 Net income s 0