240 points Using the following data Garcon Company $13.800 17.900 10 100 34.000 Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory 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 General and administrative expenses Indirect labor Repairs Factory equipment Raw materials purchases Selling expenses 19,700 25 900 8.000 12.900 8.500 33.000 2.250 6.260 42.000 53.600 205,530 27.000 257 500 14.000 Pepper Company $ 16,150 21.150 9.500 222 450 40.600 13.900 19 400 7.400 14,500 4,700 52,500 8.140 3.100 62 000 51.400 325.010 22.700 Cash Factory equment, net Accounts receable, met 22.700 1 a. Prepare income statements for both Garcon Company and Pepper Company 205,530 GARCON COMPANY Income Statement For Year Ended December 31, 2015 Sales $ Less: Cost of goods sold es Gross profit Operating expenses General and administrative expenses 205,530 33,000 52.600 Selling expenses Income foss) before tax $ 118,930 325.010 PEPPER COMPANY Income Statement For Year Ended December 31, 2015 PS Less: Cost of goods sold Gross profit Operating expenses General and administrative expenses Selling expenses 305,010 Income (loss) before tax $ 221.110 1.b. Prepare the current assets section of the balance sheet for each company