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 expens0 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 $33,300 Direct labor 8,200 Income taxes expense 10.600 Indirect labor 39,800 Miscellaneous production costs 143.600 office salarie expense 8,200 Raw materials purchases 39,000 Rent expense office space Rent expense Selling space 155,400 Rent expense Factory building 181,000 Maintenance expense Factory equipment 16,400 Sales 19,400 Sales salaries expense 161,000 135,600 $ 675,3001 280, 300 59.900 9.900 69,000 963,000 29,000 25,600 82,700 35,000 4,455,500 391,000 X Answer is not complete. LEONE COMPANY Income Statement For Year Ended December 31, 2019 Sales IS 4.455.500 Cost of goods sold Cost of goods manufactured $ 2,027,700 161,000 Goods available for sale 2.188.700 (135,600) 2,053, 100 2,402,400 Cost of goods sold Gross profit from sales Operating expenses Selling expenses Rent expense-Selling space Depreciation expense-Selling equipment Advertising expense Sales salaries expense 25,600 10,600 33,300 391,000 460,500X Total selling expenses 921,000 General and administrative expenses Depreciation expense-Office equipment Office salaries expense Rent expense-Office space 8.200 69.000 Total general and administrative expenses Total operating expenses Income before taxes Income taxes expense Net income 106.200 1,027.200 1.375 200 280,300 $ 1.094,900