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 $ 34, 400 Direct labor $ 679, 100 Depreciation expense-Office equipment 10, 100 237, 100 Depreciation expense-Selling equipment Income taxes expense 10,800 Indirect labor 55, 400 Depreciation expense-Factory equipment 34,300 Miscellaneous production costs 11, 700 Factory supervision 122,500 Office salaries expense 61, 000 Factory supplies used 8,300 Raw materials purchases 959, 000 Factory utilities 33, 000 Rent expense-Office space 22, 000 Inventories Rent expense-Selling space 26, 200 Raw materials, December 31, 2018 163,900 Raw materials, December 31, 2019 Rent expense-Factory building 82, 800 178, 000 39, 100 Work in process, December 31, 2018 16, 600 Maintenance expense-Factory equipment Sales 4, 615, 800 Work in process, December 31, 2019 19,300 Sales salaries expense 396, 300 Finished goods, December 31, 2018 166, 400 Finished goods, December 31, 2019 144,200LEONE COMPANY Income Statement For Year Ended December 31, 2019 Cost of goods sold Goods available for sale Cost of goods sold Operating expenses Selling expenses Total selling expenses General and administrative expensesTotal general and administrative expenses Total operating expenses Income before taxes Net income