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 $ 25,500 Direct labor 10,600 Income taxes expense 9,800 Indirect labor 37,800 Miscellaneous production costs 110,500 Office salaries expense 9,800 Raw materials purchases 36,000 Rent expense-office space Rent expense-Selling space 159,400 Rent expense-Factory building 177,000 Maintenance expense-Factory equipment 19,300 Sales 23,200 Sales salaries expense 164,400 136,400 $ 684,400 265,000 57,800 11,500 64,000 979,000 25,000 25,700 82,900 39,100 4,476,700 393,700 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