Direct labor below The following data is provided for Garcon Company and Pepper Company for the...

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Direct labor 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 Garcon Company 9,000 Pepper Company $12,000 $ 16,450 14,500 19,950 7,250 27,000 22,750 19,000 35,000 Finished goods inventory, ending 17,650 13,300 Work in process inventory, ending 22,000 Raw materials inventory, ending 16,000 5,300 7,200 Factory utilities. 9,000 General and administrative expenses 12,000 21,000 43,000 Indirect labor 9,458 10,860 Repairs-Factory equipment 4,780 Raw materials purchases 1,500 33,000 52,000 Selling expenses 50,000 46,000 Sales 195,030 290,010 Cash 20,000 15,700 Accounts receivable, net 13,200 19,450 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 Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31 Cost of goods sold Goods available for sale Cost of goods sold Net income 0 0 $ 0 Direct labor 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 Garcon Company 9,000 Pepper Company $12,000 $ 16,450 14,500 19,950 7,250 27,000 22,750 19,000 35,000 Finished goods inventory, ending 17,650 13,300 Work in process inventory, ending 22,000 Raw materials inventory, ending 16,000 5,300 7,200 Factory utilities. 9,000 General and administrative expenses 12,000 21,000 43,000 Indirect labor 9,458 10,860 Repairs-Factory equipment 4,780 Raw materials purchases 1,500 33,000 52,000 Selling expenses 50,000 46,000 Sales 195,030 290,010 Cash 20,000 15,700 Accounts receivable, net 13,200 19,450 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 Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31 Cost of goods sold Goods available for sale Cost of goods sold Net income 0 0 $ 0