Garcon Company Pepper Company

Finished goods inventory, beginning $ $12,900$ $ $19,750$

Work in process inventory, beginning $17,60019,800$

Raw materials inventory, beginning $8,40013,350$

Rental cost on factory equipment $27,75025,900$

Direct labor $19,20044,200$

Finished goods inventory, ending $21,35014,200$

Work in process inventory, ending $25,60016,600$

Raw materials inventory, ending $7,3009,800$

Factory utilities $12,15014,750$

General and administrative expenses $21,00057,000$

Indirect labor $14,10012,280$

Repairs$$Factory equipment $6,0201,900$

Raw materials purchases $35,50061,000$

Selling expenses $58,80055,300$

Sales $270,600396,940$

Cash $26,00015,700$

Accounts receivable, net $14,20022,950$

Prepare income statements for both Garcon Company and Pepper Company.

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