Garcon Company Pepper Company Beginning finished goods inventory $ 12,000 $ 16,450 Beginning work in process inventory 14,500 19,950 Beginning raw materials inventory 7,250 9,000 Rental cost on factory equipment 27,000 22,750 Direct labor 19,000 35,000 Ending finished goods inventory 17,650 13,300 Ending work in process inventory 22,000 16,000 Ending raw materials inventory 5,300 7,200 Factory utilities 9,000 12,000 Factory supplies used 8,200 3,200 General and administrative expenses 21,000 43,000 Indirect labor 1,250 7,660 RepairsFactory equipment 4,780 1,500 Raw materials purchases 33,000 52,000 Selling expenses 50,000 46,000 Sales 195,030 290,010 Cash 20,000 15,700 Factory equipment, net 212,500 115,825 Accounts receivable, net 13,200 19,450

1-a. Prepare income statements for both Garcon Company and Pepper Company.

Gercon Company Income statement for year ending Dec. 31st 2015

Operating expense
Income Before Tax	$

Pepper Company Income Statement for year ending Dec. 31st 2015

Operating expense
Income before tax	$

1-b. Prepare the current assets section of the balance sheet for each company.

Garcon Company Partical Balance Sheet as of Dec. 31st 2016

Inventories
Total Current Assets

Pepper Company Partical Balance Sheet as of Dec, 31st 2015

Inventories
Current Assets