Required information [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. 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 $ 30,900 Direct labor 9,000 Income taxes expense 10,200 Indirect labor 32,400 Miscellaneous production costs 146,100 Office salaries expense 8,400 Raw materials purchases 32,000 Rent expense-Office space Rent expense-Selling space 151,700 Rent expense-Factory building 188,000 Maintenance expense-Factory equipment 19,900 Sales 23,100 Sales salaries expense 168,900 140,500 $ 696,300 292,500 55,700 10,400 68,000 940,000 20,000 25, 100 80,300 37,200 4,486,800 398,800 Required information LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31, 2019 meu Direct materials Raw materials available for use Direct materials used Factory overhead Total factory overhead costs Total manufacturing costs Total cost of work in process Cost of goods manufactured 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