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 $ 27,300 Direct labor 8,800 Income taxes expense 11,000 Indirect labor 39,600 Miscellaneous production costs 122,200 Office salaries expense 7,700 Raw materials purchases 43,000 Rent expense-office space Rent expense-Selling space 159,900 Rent expense-Factory building 182,000 Maintenance expense-Factory equipment 18,100 Sales 24,600 Sales salaries expense 163,500 135,400 691,700 238,200 59,200 10,200 71,000 998,000 24,000 29,300 78,000 39,500 4,576, 100 390,700 2. Prepare the company's 2019 income statement that reports separate categories for (a) selling expenses and (b) general and administrative expenses. LEONE 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 ses General and administrative expenses Total general and administrative expenses Total operating expenses Income before taxes Net income