Pepper Company 14,400 19.150 23,850 13,200 26,350 40,200 16,200 19,200 Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory 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 General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses 16,100 11,300 27,750 19,200 21,350 25,300 5,700 9,000 10,000 21,500 17,000 4,900 44,000 9,700 3,150 57,500 56,800 6,140 36,000 51,600 246,030 32,000 262,500 16,600 17,700 Cash Factory equipment, net Accounts receivable, net 160,825 23,200 1-a. Prepare income statements for both Garcon Company and Pepper Company Answer is complete but not entirely correct. GARCON COMPANY Income Statement For Year Ended December 31, 2015 Sales Less: Cost of goods sold Gross profit Operating expenses s 246,030 126,691 119,339 General and administrative 21,500 51,600 S 46,239 Selling expenses Income (loss) before tax