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 $ 28,20e Direct labor 10,788 Income taxes expense 10,5ee Indirect labor 36,eee Miscellaneous production costs 132,100 Office salaries expense 9,200 Raw materials purchases 36,eee Rent expense-Office space Rent expense-Selling space 166,682 Rent expense-Factory building 189, Maintenance expense-Factory equipment 17,200 Sales 22,888 Sales salaries expense 167,400 137,400 698,700 238,200 56,700 11,800 72,000 947, eee 21, eee 25,500 77,480 35,100 4,505,300 394,500 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 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 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