$ Pepper Company $ 19,000 22,350 17,200 10,50 9,600 (The following information applies to the questions displayed below.] The following data is provided for Garcon Company and Pepper Company. Garcon Company Beginning finished goods inventory 13,500 Beginning work in process inventory Beginning raw materials inventory (direct materials) Rental cost on factory equipment 32,250 Direct labor 24,800 Ending finished goods inventory 21,050 Ending work in process inventory 22,900 Ending raw materials inventory 5,400 utilities 9,150 Factory supplies used (indirect materials) 10,900 General and administrative expenses 10:00 23:50 Indirect labor 1,300 Repairs-Factory equipment 5,660 Raw materials purchases 41,500 Selling expenses 64,400 Sales 220,530 Cash 25,000 Factory equipment, net 247,500 Accounts receivable, net 15,200 13,750 23,950 39,400 13,700 2:10 17,600 7,800 2: 4,700 55,500 10,000 10. 3, eee 60,000 46,600 342,510 18,200 145, 825 19,700 Required: 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. 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 0 Operating expenses Income (loss) before tax $ 0 PEPPER COMPANY Income Statement For Year Ended December 31, 2019 O Operating expenses Income (loss) before tax 0 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: 0 Total current assets $ 0 Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Partial Balance Sheet As of December 31, 2019 Inventories: o Total current assets $ 0