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 $ 32,400 Direct labor $ 693,500 Depreciation expense-Office 10,200 Income taxes expense equipment 264,000 Depreciation expense-Selling equipment 10,100 Indirect labor 55,700 Depreciation expense-Factory 39,800 Miscellaneous production costs equipment 11,700 Factory supervision 138,200 office salaries expense 62,000 Factory supplies used 8,100 Raw materials purchases 968,000 Factory utilities 40,000 Rent expense-office space 23,000 Inventories Rent expense-Selling space 28,500 Raw materials, December 31, 2018 156,500 Rent expense-Factory building Raw materials, December 31, 178,000 Maintenance expense-Factory 38,900 2019 equipment Work in process, December 31, 2018 16,800 Sales 4,566,600 Work in process, December 31, 22,400 2019 Sales salaries expense 390,300 Finished goods, December 31, 2018 167,000 Finished goods, December 31, 2019 137, 100 79,500 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 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