Can you please post the answers with the work.

Thank you!

Required information [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company. Garcon Company $ 12,700 15,800 9,000 32,750 20,200 20,150 23,800 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 7,200 10,500 10,000 25,000 1,500 4,820 45,500 53,200 219,030 34,000 272,500 15,200 Pepper Company $ 18,100 19,650 12,600 24,850 41,800 17,000 21,600 9,000 14,750 5,700 45,500 8,620 2,750 54,500 58,900 302,510 18,700 127,825 22,950 Cash Factory equipment, net Accounts receivable, net 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. Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31, 2019 Sales $ Less: Cost of goods sold Gross profit Operating expenses Selling expenses General and administrative expenses 219,030 111,620 107,410 53,200 Income (loss) before tax $ 54,210 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 0 Operating expenses Income (loss) before tax $ 0 Req 1 Garcon Req 1 Pepper Req Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: 0 Total current assets $ 0