3 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 $ 13,600 Pepper Company $ 17,800 17,700 20,700 11,800 14,250 31,500 22,150 23,200 41,800 Finished goods inventory, ending 19,400 16,000 Work in process inventory, ending 27,100 18,000 Raw materials inventory, ending 7,000 9,000 Factory utilities 11,850 12,250 General and administrative expenses 27,000 51,500 Indirect labor 10,900 12,700 Repairs-Factory equipment 6,500 3,900 Raw materials purchases 38,500 53,000 Selling expenses. 59,200 49,000 Sales 275,550 384,030 Cash 24,000 22,700 Accounts receivable, net 16,600 22,700 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