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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

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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 $ 25,308 Direct labor 9,700 Income taxes expense 10,100 Indirect labor 32,500 Miscellaneous production costs 143,300 Office salaries expense 9,200 Raw materials purchases 44,000 Rent expense-office space Rent expense-Selling space 160,500 Rent expense-Factory building 187,000 Maintenance expense-Factory equipment 16,608 Sales 19,300 Sales salaries expense 166,600 142.400 $ 671,500 262,700 56,600 10,700 66,000 952,000 20,800 26,200 77,500 35,300 4,575,700 399,400 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 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 Cont of goods sold Goods available for sale 0 Cost of goods sold 0 0 Operating expenses Selling expenses Total selling expenses General and administrative expenses 0 Required information Goods available for sale 0 Cost of goods sold 0 0 Operating expenses Selling expenses Total selling expenses General and administrative expenses 0 0 Total general and administrative expenses Total operating expenses Income before taxes 0 0 Net Income $ 0

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