2 Part 2 of 2 9.09 points Skipped eBook Required information Use the following information for the Exercises below. (Algo) [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 Pepper Company Garcon Company $ 13,800 $ 17,350 18,200 19,950 11,000 11,250 32,500 22,900 23,000 39,800 18,650 13,700 23,500 20,000 Hint Raw materials inventory, ending Factory utilities 6,800 8,000 10,050 17,000 General and administrative expenses 23,000 54,500 Indirect labor 11,700 14,160 Repairs-Factory equipment 4,940 3,050 Print Raw materials purchases 41,000 62,000 Selling expenses 60,000 59,200 Sales 275,550 387,310 Cash 34,000 19,700 References Accounts receivable, net 16,400 19,450 Exercise 14-8 (Algo) Preparing financial statements for a manufacturer LO P1 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. Cost of goods sold: GARCON COMPANY Income Statement For Year Ended December 31 Goods available for sale Cost of goods sold 0 $ 0 < Req 1 Garcon Req 1 Pepper > 2 Part 2 of 2 9.09 points Skipped Required information Use the following information for the Exercises below. (Algo) [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 $ 13,800 Pepper Company $ 17,350 18,200 19,950 11,000 11,250 32,500 22,900 eBook 23,000 39,800 Finished goods inventory, ending 18,650 13,700 Work in process inventory, ending 23,500 20,000 Raw materials inventory, ending 6,800 8,000 Hint Factory utilities 10,050 17,000 General and administrative expenses 23,000 54,500 Indirect labor 11,700 14,160 Repairs-Factory equipment 4,940 3,050 Print Raw materials purchases 41,000 62,000 Selling expenses 60,000 59,200 Sales 275,550 387,310 Cash 34,000 19,700 References Accounts receivable, net 16,400 19,450 Exercise 14-8 (Algo) Preparing financial statements for a manufacturer LO P1 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. Cost of goods sold: PEPPER COMPANY Income Statement For Year Ended December 31 Goods available for sale Cost of goods sold 0 0 Net income $ < Req 1 Garcon Req 2 Garcon > 2 Part 2 of 2 9.09 points Skipped eBook Required information Use the following information for the Exercises below. (Algo) [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 Pepper Company Garcon Company $ 13,800 $ 17,350 18,200 19,950 11,000 11,250 32,500 22,900 23,000 39,800 18,650 13,700 23,500 20,000 6,800 8,000 10,050 17,000 General and administrative expenses 23,000 54,500 Indirect labor 11,700 14,160 Repairs-Factory equipment 4,940 3,050 Print Raw materials purchases 41,000 62,000 Selling expenses 60,000 59,200 Sales 275,550 387,310 Cash 34,000 19,700 References Accounts receivable, net 16,400 19,450 Hint Exercise 14-8 (Algo) Preparing financial statements for a manufacturer LO P1 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 Garcon Company. GARCON COMPANY Balance Sheet-Current Assets Section December 31 Total current assets 2 Part 2 of 2 Required information Use the following information for the Exercises below. (Algo) [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. 9.09 points Skipped eBook Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Pepper Company $ 17,350 Garcon Company $ 13,800 18,200 19,950 11,000 11,250 32,500 22,900 23,000 39,800 Finished goods inventory, ending 18,650 13,700 Work in process inventory, ending Raw materials inventory, ending 23,500 20,000 6,800 8,000 Hint Factory utilities 10,050 17,000 General and administrative expenses 23,000 54,500 Indirect labor 11,700 14,160 Repairs-Factory equipment 4,940 3,050 Print Raw materials purchases 41,000 62,000 Selling expenses 60,000 59,200 Sales 275,550 387,310 Cash 34,000 19,700 References Accounts receivable, net 16,400 19,450 Exercise 14-8 (Algo) Preparing financial statements for a manufacturer LO P1 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 Balance Sheet-Current Assets Section December 31 Total current assets