The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and...

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The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and other records of Leone Company. Advertising expense $ 25,000 Direct labor 11,800 Income taxes expense 9,700 Indirect labor Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision 34,800 Miscellaneous production costs office salaries expense 119,000 Raw materials purchases Factory supplies used Factory utilities Inventories 7,800 31,000 Rent expense-Office space Rent expense-Selling space Rent expense-Factory building 154,300 193,000 Maintenance expense-Factory equipment 16,500 Sales Rav 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, December 31, 2019 24,200 Sales salaries expense 165,100 135,200 684,600 243,000 58,600 9,900 69,000 952,000 28,000 27,600 79,700 38,000 4,625,400 399,600 Cost of goods sold Income Statement For Year Ended December 31, 2019 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 The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and other records of Leone Company. Advertising expense $ 25,000 Direct labor 11,800 Income taxes expense 9,700 Indirect labor Depreciation expense-office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision 34,800 Miscellaneous production costs office salaries expense 119,000 Raw materials purchases Factory supplies used Factory utilities Inventories 7,800 31,000 Rent expense-Office space Rent expense-Selling space Rent expense-Factory building 154,300 193,000 Maintenance expense-Factory equipment 16,500 Sales Rav 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, December 31, 2019 24,200 Sales salaries expense 165,100 135,200 684,600 243,000 58,600 9,900 69,000 952,000 28,000 27,600 79,700 38,000 4,625,400 399,600 Cost of goods sold Income Statement For Year Ended December 31, 2019 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

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Leone Company Income Statement F... View the full answer