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. $ 27,200 11,300 9,800 38,600 118,300 8,700 43,000 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 Direct labor Income taxes expense Indirect labor Miscellaneous production costs Office salaries expense Raw materials purchases Rent expense-office space Rent expense-Selling space Rent expense-Factory building Maintenance expense-Factory equipment Sales Sales salaries expense $ 681,400 261,800 55,800 11,600 65,000 952,000 24,000 27,400 82,400 38,600 4,526,200 391,700 156,000 195,000 18,700 24,000 160,300 140,600 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 Total general and administrative expenses Total operating expenses Income before taxes Net income