The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and other records of Leone Company. Advertising expense $ 32,400 Direct labor $ 676,000 Depreciation expenseOffice equipment 8,100 Income taxes expense 236,700 Depreciation expenseSelling equipment 10,700 Indirect labor 56,100 Depreciation expenseFactory equipment 38,500 Miscellaneous production costs 11,600 Factory supervision 100,500 Office salaries expense 71,000 Factory supplies used 9,200 Raw materials purchases 978,000 Factory utilities 38,000 Rent expenseOffice space 28,000 Inventories Rent expenseSelling space 27,600 Raw materials, December 31, 2018 163,300 Rent expenseFactory building 78,300 Raw materials, December 31, 2019 187,000 Maintenance expenseFactory equipment 35,300 Work in process, December 31, 2018 18,600 Sales 4,585,400 Work in process, December 31, 2019 19,500 Sales salaries expense 399,700 Finished goods, December 31, 2018 162,800 Finished goods, December 31, 2019 138,300 2. Prepare the companys 2019 income statement that reports separate categories for (a) selling expenses and (b) general and administrative expenses.

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, ember 31, 2019 $ 32,400 Direct labor 8,100 Income taxes expense 10,700 Indirect labor 38,500 Miscellaneous production costs 100,500 office salaries expense 9,200 Raw materials purchases 38,000 Rent expense-office space Rent expense-selling space 163,300 Rent expense-Factory building 187,000 Maintenance expense-Factory equipment 18,600 Sales 19,500 Sales salaries expense 162,800 138,300 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 0 Cost of goods sold 0 0 Operating expenses Selling expenses LEONE COMPANY Income Statement For Year Ended December 31, 2019 Cost of goods sold Goods available for sale 0 Cost of goods sold 0 0 Operating expenses Selling expenses 0 Total selling expenses General and administrative expenses 0 Total general and administrative expenses Total operating expenses Income before taxes 0 0 Net income S 0