Transcribed image text: Required information The following information applies to the questions displayed below.) 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 $ 26,100 Direct labor 8,700 Income taxes expense 10,100 Indirect labor 33,900 Miscellaneous production costs 127,800 Office salaries expense 7,700 Raw materials purchases 44,000 Rent expense-Office space Rent expense-Selling space 161,200 Rent expense-Factory building 182,880 Maintenance expense-Factory equipment 19,580 Sales 20,300 Sales salaries expense 168,380 143, 100 688,880 271,600 56,100 10,100 66,000 968,000 29,000 25,300 79,300 36,100 4,456,800 399,900 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 Sales $ 4,456,800 Cost of goods sold Cost of goods manufactured Finished goods inventory, December 31, 2016 Goods available for sale