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, 600 Direct labor 11,400 Income taxes expense 10,500 Indirect labor 36, 900 Miscellaneous production costs 129,500 Office salaries expense 9,000 Raw materials purchases 45,000 Rent expense-office space Rent expense-Selling space 160, 900 Rent expense-Factory building 194,000 Maintenance expense-Factory equipment 15,100 Sales 20,900 Sales salaries expense 163.600 140, 600 $ 674, 300 271, 900 57,200 9,000 68,000 963,000 24,000 29,400 82,100 39, 400 4,596, 200 391,200 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 Required information Total selling expenses General and administrative expenses Total general and administrative expenses Total operating expenses Income before taxes Net income