Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory (direct materials) 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 (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 12,200 16,000 9,600 27,250 20,400 17,300 24,700 6,600 11,550 11,800 30,500 1,950 5,540 38,000 63,200 247,530 27,000 257,500 16,000 Pepper Company $ 19,150 22,650 11,100 26,950 43,800 14,300 17,400 9,400 12,500 3,900 52,000 7,660 2,000 55,000 50,500 337,510 16,700 127,825 19,700 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY 247,530 Income Statement + For Year Ended December 31, 2019 Sales $ Less: Cost of goods sold Gross profit Operating expenses General and administrative expenses 247,530 30,500 Selling expenses 63,200 Income (loss) before tax $ 153,830 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31, 2019 Sales $ 337,510 337,510 Less: Cost of goods sold Gross profit Operating expenses General and administrative expenses 52,000 50,500 Selling expenses Income (loss) before tax $ 235,010