1. Prepare income statements for both Garcon Company and Pepper Company.

2. Prepare the current assets section of the balance sheet for each company

Help, please

Module 1: Critical Thinking Option #1 - Managerial Accounting at Work Saved Help Save & Exit Submit ! 1 Required information [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company. Part 1 of 2 Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory (direct materials) Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 14,000 17,600 7,600 32,250 20,400 19,700 24,100 6,800 11,550 12,100 22,000 2,100 5,540 33,000 51,200 231,030 27,000 227,500 14,000 Pepper Company $ 19,300 22,800 13,800 24,700 37,000 16,700 18,000 10,000 12,750 5,800 45,500 9,580 2,800 56,500 48,700 330,010 16,700 148,825 21,200 Required: 1. Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31, 2019. 2. Complete the table to calculate the cost of goods sold for both Garcon Company and Pepper Company for the year ended December 31, 2019. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the table to find the cost of goods manufactured for both Garcon Company and Pepper Company for the year ended December 31, 2019. Garcon Pepper 2 Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net 33,000 51,200 231,030 27,000 227,500 14,000 56,500 48,700 330,010 16,700 148,825 21,200 Part 2 of 2 Required: 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below. 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, 2019 Operating expenses Income (loss) before tax 0 N Factory equipment, net Accounts receivable, net 227,500 14,000 148,825 21,200 Part 2 of 2 Required: 1. Prepare income statements for both Garcon Company and Pepper Company 2. Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31, 2019 0 Operating expenses Income (loss) before tax Factory equipment, net Accounts receivable, net 227,500 14,000 148,825 21,200 Part 2 of 2 Part 2 of 2 Required: 1. Prepare income statements for both Garcon Company and Pepper Company 2. Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below. Reg 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 Partial Balance Sheet As of December 31, 2019 Inventories: 0 Total current assets 0 2 Selling expenses Sales Cash Factory equipment, net Accounts receivable, net 51,200 231,030 27,000 227,500 14,000 48,700 330,010 16,700 148,825 21,200 Part 2 of 2 Required: 1. Prepare income statements for both Garcon Company and Pepper Company 2. Prepare the current assets section of the balance sheet for each company. Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: 0 0 Total current assets