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 $ 33,400 Direct labor 8,100 9,900 34,200 114,600 9,800 Income taxes expense Indirect labor Miscellaneous production costs Office salaries expense Raw materials purchases 41,000 Rent expense-Office space $ 677,400 246,900 58,200 11,000 66,000 935,000 23,000 Rent expense-Selling space 28,900 156,400 Rent expense-Factory building 81,600 189,000 Maintenance expense-Factory equipment 37,000 16,500 Sales 4,565,000 19,000 Sales salaries expense 398,700 165,500 142,200 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 Total selling expenses General and administrative expenses Total general and administrative expenses Total operating expenses Income before taxes Net income