The following calendar year-end information is taken from the December 31, 2017, 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, 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 $ 32,100 Direct labor 8,500 Income taxes expense 9,600 Indirect labor 38,800 Miscellaneous production costs 127,400 office salaries expense 9,900 Raw materials purchases 41,000 Rent expense-office space Rent expense-Selling space 156,300 Rent expense-Factory building 193,000 Maintenance expense-Factory equipment 17,600 Sales 22,000 Sales salaries expense 169,500 139,300 $ 685,800 242,000 58,600 11,000 72,000 980,000 27,000 25,300 79,200 35,600 4,625,700 400,000 LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31, 2017 Direct materials SELE Raw materials available ol 0 WHAT Direct materials used Factory overhead . A Total factory overhead costs Total manufacturing costs Total cost of work in process 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 Goods available for sale Cost of goods sold Operating expenses Selling expenses Total selling expenses General and administrative expenses Net income 333 Income before taxes Total operating expenses Total general and administrative expenses General and administrative expenses ID To T 1 Jh 1 1 / / / / / / 11 / / / R / / / / / / / / / / / / / / / / / / / / / / + / 0 Joolo