GARCON COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Finished goods inventory, beginning Cost of goods manufactured Goods available for sale Less Finished goods inventory, ending Cost of goods sold Gross profit General and administrative expenses Selling expenses 10 $ Reg 1 Garcon Req 1 Pepper > following is provided for Gate Company and Pepper Company for the year Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Garcon Company $ 12,200 15,100 Pepper Company $ 19,150 22,950 9,700 13,200 34,500 22,900 19,400 40,200 Finished goods inventory, ending 18,200 16,800 Work in process inventory, ending 24,100 16,800 Raw materials inventory, ending 7,900 9,600 Factory utilities 9,150 13,500 General and administrative expenses 22,000 55,000 Indirect labor 10,400 15,100 Repairs-Factory equipment 5,420 3,700 Raw materials purchases 41,500 69,000 Selling expenses 61,600 55,600 Sales 271,140 375,920 Cash 28,000 18,200 Accounts receivable, net 16,000 23,200 Cost of goods sold: PEPPER COMPANY Income Statement For Year Ended December 31 Goods available for sale Cost of goods sold Net income 0 S 0 0 Prepare the current asset section of the balance sheet for Garcon Compan GARCON COMPANY Balance Sheet-Current Assets Section December 31 Total current assets 69 $ 0 Prepare the current asset section of the balance sheet for Pep PEPPER COMPANY Balance Sheet-Current Assets Section December 31 Total current assets $ 0