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 $ 31,300 Direct labor 10,000 Income taxes expense 10,600 Indirect labor 31,400 Miscellaneous production costs 138, 100 office salaries expense 9,700 Raw materials purchases 39,000 Rent expense-Office space Rent expense-Selling space 168,800 Rent expense-Factory building 182,000 Maintenance expense-Factory equipment 17,100 Sales 19,400 Sales salaries expense 161,600 140,900 $ 699,600 272,700 59,000 10,900 68,000 981,000 21,000 27,900 81,300 39,300 4,625,800 397,200 2. Prepare the company's 2019 income statement that reports separate categories for (a) selling expenses and (b) general and administrative expenses. Income Statement For Year Ended December 31, 2019 Cost of goods sold Finished goods inventory, December 31, 2018 Cost of goods manufactured Goods available for sale Less: Finished goods inventory, December 31, 2019 Cost of goods sold Gross profit from sales Operating expenses Selling expenses Advertising expense Depreciation expense Selling equipment Rent expense-Selling space Sales salaries expense Total selling expenses General and administrative expenses Depreciation expense-Office equipment Office salaries expense Rent expense-Selling space Total general and administrative expenses Total operating expenses Income before taxes Income taxes expense Net income $ 0