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 31,400 Direct labor 11, 200 Income taxes expense 10,200 Indirect labor 35,100 Miscellaneous production costs 124,000 Office salaries expense 8,600 Raw materials purchases 34,000 Rent expense-Office space Rent expense-Selling space 154,700 Rent expense-Factory building 183,000 Maintenance expense-Factory equipment 18,100 Sales 24,500 Sales salaries expense 163,000 136,400 $ 681,100 261,000 59,700 11,500 61,000 958,000 27,000 29,100 82,100 38,000 4,485,500 396,600 Required: 1. Prepare the company's 2017 schedule of cost of goods manufactured. LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31 2017 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 31,400 Direct labor 11,200 Income taxes expense 10,200 Indirect labor 35,100 Miscellaneous production costs 124,000 Office salaries expense 8,600 Raw materials purchases 34,000 Rent expense-Office space Rent expense-Selling space 154,700 Rent expense-Factory building 183,000 Maintenance expense-Factory equipment 18,100 Sales 24,500 Sales salaries expense 163,000 136,400 $ 681, 100 261,000 59,700 11,500 61,000 958,000 27,000 29, 100 82,100 38,000 4,485,500 396,600 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