1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company.

! Required information [The following information applies to the questions displayed below.) The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Garcon Company $ 13,000 16,900 11,200 34,250 23,000 21,200 24,700 6,000 9,150 21,000 13,700 6,980 42,500 61,600 272,070 22,000 15,200 Pepper Company $ 19,000 23,850 13,950 22,450 41,800 15,200 19,800 9,800 13,000 45,500 13,520 3,750 61,500 58,300 374,500 22,700 19,950 Cash Accounts receivable, net Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale 0 Cost of goods sold 0 $ 0 complete uns question by enemy your answers mule Laus verw. Req 1 Garcon Req 1 Pepper Reg 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale 0 Cost of goods sold 0 Net income $ 0 compiere uns question by eller ny your answers mule Laus vei. Req 1 Garcon Req 1 Pepper Reg 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Balance Sheet-Current Assets Section December 31 Total current assets $ 0 compiere uns questioni vy enter my your answers II Le Laus veiw. LITE . Req 1 Garcon Req 1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Balance Sheet-Current Assets Section December 31 Total current assets $ 0