Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Accounts receivable, net Garcon Company $ 14,600 18,200 8,600 28,750 22,200 20,000 27,700 5,400 13,650 21,000 13,050 4,700 45,500 55,600 275,250 31,000 16,400 Pepper Company $ 16,600 19,650 9,900 25,450 43,400 15,300 19,200 10,000 17,500 49,000 11,860 3,850 60,000 54,700 379,670 15,700 20,700 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 Sales Cost of goods sold: Goods available for sale 0 Cost of goods sold 0 $ 0