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 Finished goods inventory, beginning Work in process inventory, beginning Raw materials Inventory, beginning Rental cost on factory equipment Direct labor Finished goods Inventory ending Work in process inventory, ending Raw materials inventory. ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Canh Accounts receivable, net Caroon Company $14.000 17.000 7,500 30.750 23,000 10,950 23,800 7.900 10,950 32,500 13,100 7,700 36,000 58,400 273,330 34,000 13,400 Pepper Company $ 17.100 23,550 13,350 23,800 40,200 14.300 18.600 8.600 14,500 47,500 12,440 2.400 56.000 46,600 372,190 15,700 23,450 1. Prepare income statements for both Garcon Company and Pepper Company, 2. Prepare the current assets section of the balance sheet for each company Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Reg 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 Sales $ 273,330 Cost of goods sold: Goods available for sale 0 Cost of goods sold 0 $ Reg 1 Garcon Req 1 Pepper Reg 1 Garcon Reg 1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31 Cost of goods sold Goods available for sale 0 Cost of goods sold 0 Not income $ Req 1 Garcon Req 1 Pepper Red 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Garcon Company GARCON COMPANY Balance Sheet-Current Assets Section December 31 Total current assets $ 0 Req 1 Garcon Reg 1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the current asset section of the balance sheet for Pepper Company PEPPER COMPANY Balance Sheet-Current Assets Section December 31 Total current assets $ 0