14 The following data is provided for Garcon Company and Pepper Company for the year ended December 31. Part 20 Part 2 of 3 4.5 points 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 Cash Accounts receivable, net Garcon Company $ 12,800 14,500 7,250 27,000 19,800 17,650 22.000 5,300 9,800 21,800 9,450 4,780 33,800 58,888 195,30 20,000 13,200 Pepper Company $ 16,450 19,950 9,000 22,750 35,eee 13,300 16,000 7,200 12,eee 43,000 18,860 1,500 52,eee 46,000 290,10 15,700 19,450 eBook Hint Print Exercise 14-8 (Static) Preparing financial statements for a manufacturer LO P1 References 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 Reg 2 Garcon Reg 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 $