UNLICHE FUDel 1 Saved 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 33,500 Direct labor 8,500 Income taxes expense 9,600 Indirect labor 33,300 Miscellaneous production costs 115,900 Office salaries expense 8,500 Raw materials purchases 42,000 Rent expense-Office space Rent expense-Selling space 153,100 Rent expense-Factory building 180,000 Maintenance expense-Factory equipment 18,900 Sales 22,800 Sales salaries expense 161,100 140,100 $ 691,900 256,100 59,300 10,120 71,004 999,000 24,000 27,988 80,800 36,100 4,595, 100 392,600 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 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 Cost of goods sold Goods available for sale Cost of goods sold Operating expenses Selling expenses Total selling expenses General and administrative expenses Required information Operating expenses Selling expenses Total selling expenses General and administrative expenses Total general and administrative expenses Total operating expenses Income before taxes 0 Net income