2 Part 2 of 2 83.33 points eBook Hint Print References 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 Garcon Company $ 12,000 Pepper Company 14,500 $ 16,450 19,950 7,250 9,000 27,000 22,750 19,000 35,000 Finished goods inventory, ending 17,650 13,300. Work in process inventory, ending Raw materials inventory, ending 22,000 16,000 5,300 7,200 Factory utilities 9,000 12,000 General and administrative expenses 21,000 43,000 Indirect labor 9,450 10,860 Repairs-Factory equipment 4,780 1,500. Rav materials purchases 33,000 52,000 Selling expenses 50,000 46,000 Sales 195,030 290,010 Cash 20,000 15,700 Accounts receivable, net 13,200 19,450 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company.