Required information The following information applies to the questions displayed below) The following calendar year-end information is taken from the December 31, 2017 adjusted trial balance and other records of Leone Company. $ 699,400 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, 2016 Raw materials, December 31, 2017 work in process, December 31, 2016 Work in process, December 31, 2017 Finished goods, December 31, 2016 Finished goods, December 31, 2017 $31.000 Direct labor 19,400 Income taxes expense 10.400 Indirect labor 3A, 800 Miscellaneous production costs 116,500 office salaries expense 9,500 Raw materials purchases 42,000 Rent expense office space Bent expense-selling space 159,900 Rent expense Factory building 192,000 Maintenance expense-Factory equipment 17,400 Sales 18.400 Sales salaries expense 166.600 141,700 57,900 10.500 64, og 930,000 21,00 28,300 81,200 39.000 4,586, 100 396, 200 2. Prepare the company's 2017 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, 2017 Cost of goods sold ok Goods available for sale rint Cost of goods sold rences Operating expenses Selling expenses Total selling expenses General and administrative expenses ook Total selling expenses General and administrative expenses erences Total general and administrative expenses Total operating expenses Income before taxes Net Income