o Required Information [The following information applies to the questions displayed below) The following data is provided for Garcon Company and Pepper Company for the year ended December 31 Garcon Pepper Company Company Finished goods Inventory, beginning $ 14,700 18,550 Work in process inventory, beginning 16,400 22.500 Raw materials inventory, beginning 9,200 10,350 Rental cost on factory equipment 27,500 26,05 Direct labor 22,600 39,000 Finished goods inventory, ending 17.150 14,900 Work in process inventory, ending 24,400 19,000 Bay baterials inventory, ending 5,300 7.400 Factory utilities 9.300 16.750 General and administrative expenses 38,500 43,500 Indirect labor 15,300 14,180 Repairs-Factory equipment 4,820 2.650 Raw materials purchases 47.000 64,500 Selling expenses 61,200 51,100 Sales 271,980 382,150 Cash 24,000 23,700 Accounts receivable, net 16,800 21,700 1. Prepare Income statements for both Garcon Company and Pepper Company 2. Prepare the current assets section of the balance sheet for each company Answer is not complete. 4 2 UX $ 4 0 > @ & 7 C 9 N 3 5 6 8 W E m R T Y U S D F F G 0 H J 7 N M Required information Complete this question by entering your answers in the tabs below. Rea 1 Garcon Reg 1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the income statement for Garcon Company, GARCON COMPANY Income Statement For Year Ended December 31 Cost of goods sold Goods available for sale 0 Cost of goods sold 0 0 Rea 1 Pepper > & 7 3 A 6 00 8 9 W E R T Y U S D F G H J J Required information 12 Req i Garcon Req 1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the income statement for Pepper Company PEPPER COMPANY Income Statement For Year Ended December 31 ped Cost of goods sold Goods available for sale 0 Cost of goods sold O Net income 4 2 UX $ 4 0 > @ & 7 C 9 N 3 5 6 8 W E m R T Y U S D F F G 0 H J 7 N M Required information Complete this question by entering your answers in the tabs below. Rea 1 Garcon Reg 1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the income statement for Garcon Company, GARCON COMPANY Income Statement For Year Ended December 31 Cost of goods sold Goods available for sale 0 Cost of goods sold 0 0 Rea 1 Pepper > & 7 3 A 6 00 8 9 W E R T Y U S D F G H J J Required information 12 Req i Garcon Req 1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the income statement for Pepper Company PEPPER COMPANY Income Statement For Year Ended December 31 ped Cost of goods sold Goods available for sale 0 Cost of goods sold O Net income