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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
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 $ 29,500 Direct labor 8,100 Income taxes expense 10,300 34,400 145,300 Indirect labor Miscellaneous production costs office salaries expense Raw materials purchases 8,100 34,000 Rent expense-office space Rent expense-Selling space 158,200 Rent expense-Factory building 180,000 $ 679,600 288,400 56,800 9,200 75,000 990,000 24,000 25.100 76,800 Maintenance expense-Factory equipment 17,500 Sales 35,700 4,496,500 20,200 Sales salaries expense 394,700 168,000 136,600 2. Prepare the company's 2019 Income statement that reports separate categories for (a) selling expenses and (b) general and administrative expenses. Cost of goods sold Goods available for sale Cost of goods sold Operating expenses Selling expenses LEONE COMPANY Income Statement For Year Ended December 31, 2019 0 0 Required information Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses Total operating expenses Income before taxes 0 0 0 Net income 0
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