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, 300 Direct labor 8,700 Income taxe expense 9,700 Indirect labor 33,700 Miscellaneous production costs 127,800 office salaries expense 8,900 Raw material purchases 32,000 Rent expense-office space Rent expense-selling space 157,300 Rent expense-Pactory building 185,000 Maintenance expensePactory equipment 18.700 Sales 22,500 Sales salaries expense 166,300 137.500 693.900 289, 200 58,000 10,900 66,000 942,000 25,000 29, 200 81.600 35,600 4,445,200 396, 100 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 Tote general and administrative expenses Total operating expenses Income before taxes