Finished goods inventory, beginning

Work in process inventory, beginning Raw materials inventory, beginning

Rental cost on factory equipment

Direct labor

Finished goods inventory, ending

Garcon Company

$ $12,000$

$15,600$

Pepper Company

$ $18,250$

$20,400$

$8,100$

$9,300$

$30,250$

$22,450$

$19,800$

$38,600$

$21,500$

$14,200$

Work in process inventory, ending

$26,800$

$20,000$

Raw materials inventory, ending

$5,800$

$9,600$

Factory utilities

$9,750$

$12,750$

General and administrative expenses

$23,500$

$50,500$

Indirect labor

$14,400$

$11,160$

Repairs$-$Factory equipment

$6,740$

$3,900$

Raw materials purchases

$35,000$

$53,500$

Selling expenses

$58,000$

$53,500$

Sales

$270,690$

$384,120$

Cash

$34,000$

$22,200$

Accounts receivable, net

$13,400$

$22,450$

$1.$ Prepare income statements for both Garcon Company and Pepper Company.

$2.$ Prepare the current assets section of the balance sheet for each company