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 $ 33,600 Direct labor 8,300 Income taxes expense 10,100 Indirect labor 31,100 Miscellaneous production costs 133,100 Office salaries expense 9,400 Raw materials purchases 35,680 Rent expense-Office space Rent expense-selling space 169,800 Rent expense-Factory building 192,000 Maintenance expense-Factory equipment 19,000 Sales 20,100 Sales salaries expense 162,200 135,900 $ 687,300 299,200 55,400 11,800 60,000 935.000 25,000 28,200 81,900 39,900 4,435,900 392,100 LEONE COMPANY Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Cost of goods manufactured $ 3.223.800 Finished goods inventory, December 31, 2016 162.200 $ 4.435.900 > 3.385,800 135.900 3.249,900 1.180.000 > Goods available for sale Less: Finished goods inventory, December 31, 2017 Cost of goods sold Gross profit from sales Operating expenses Selling expenses Depreciation expense-Selling equipment Rent expense-Selling space Sales salaries expense Advertising expense OOOO 10.100 28,200 302.100 33.600 Total general and administrative expenses Total operating expenses Income before taxes 93,300 557,300 628,700 299,200 329,500 Income taxes expense Net income $