beginning tinisnea gooas 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 12,00 18,109 10,200 31,589 20,000 20,300 24,700 6,500 14,700 10,600 23,000 1,600 7,100 35,500 52,000 210,30 22,000 247,500 15,800 18,850 21,450 14,850 26, 200 42,200 14,000 19,800 8, 200 14,750 5,9ee 50,500 9,100 2,850 57,000 50, 800 317,518 17,700 133,825 22,950 Exercise 18-9 Preparing financial statements for a manufacturer LO C4, P2 Required: 1. Prepare income statements for both Garcon Company and Pepper Company 2. Prepare the current assets section of the balance sheet for each company beginning tinisnea gooas 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 12,00 18,109 10,200 31,589 20,000 20,300 24,700 6,500 14,700 10,600 23,000 1,600 7,100 35,500 52,000 210,30 22,000 247,500 15,800 18,850 21,450 14,850 26, 200 42,200 14,000 19,800 8, 200 14,750 5,9ee 50,500 9,100 2,850 57,000 50, 800 317,518 17,700 133,825 22,950 Exercise 18-9 Preparing financial statements for a manufacturer LO C4, P2 Required: 1. Prepare income statements for both Garcon Company and Pepper Company 2. Prepare the current assets section of the balance sheet for each company