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I would like to know the process of balance sheet and income statement thanks. Required information [The following information applies to the questions displayed below.]
I would like to know the process of balance sheet and income statement thanks.
Required information [The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company. Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory (direct materials) Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 12,300 15,100 10,500 28,750 24.400 21,200 22,300 5,700 11,550 9,100 32,500 1,500 7,580 37,000 61,600 225,030 22,000 217,500 16,400 Pepper Company $ 18,550 20,100 10,200 23,200 35,000 14,100 21,600 9,800 13,000 5,900 44,000 9,820 3,950 62,500 52,000 322,510 22,700 118,825 22,450 Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: Total current assets Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31, 2019 Operating expenses Income (loss) before taxStep by Step Solution
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