Finished goods inventory, ending 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 Direct labor Garcon Company $ 14,800 Pepper Company $ 19,000 16,900 21,300 11,400 12,600 33,500 25,150 21,800 38,600 20,300 14,300 Work in process inventory, ending 22,600 Raw materials inventory, ending 18,400 6,600 Factory utilities 8,000 14,550 General and administrative expenses 12,250 30,500 Indirect labor 56,500 13,950 Repairs-Factory equipment 14,540 5,300 Raw materials purchases 3,500 Selling expenses 44,000 54,000 Sales 62,000 58,900 Cash Accounts receivable, net 275,430 381,400 23,000 22,200 13,400 23,950 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company.