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 $ 32,400 Direct labor 8,100 Income taxes expense 10,200 Indirect labor 39,100 Miscellaneous production costs 114,100 Office salaries expense 8,800 Raw materials purchases Rent expense-Office space Rent expense-Selling space 156,400 Rent expense-Factory building 186,000 Maintenance expense-Factory equipment 17,800 Sales 23,800 Sales salaries expense 162,200 138,200 $ 678,900 237,400 55,800 11,800 63,000 994,000 24,000 28,800 76,600 39,000 4,515, 100 394,600 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 General and administrative expenses Total general and administrative expenses Total operating expenses Income before taxes Net income $