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Please answer 1A and 1B if possible, it would be appreciated Required information [The following information applies to the questions displayed below] The following data
Please answer 1A and 1B if possible, it would be appreciated
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 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 Sales Cash Factory equipment, net Accounts receivable, net Garcorn Company $ 13,500 18,100 11,500 32,000 22,600 21,650 22,600 7,500 11,550 9,100 27,500 1,550 6,860 46,000 60,800 234,030 34,000 262,500 16,400 Pepper Company $ 16,600 23,850 11,250 26,650 38,600 16,800 16,800 9,400 13,250 5,400 54,500 8,320 3,850 57,000 57,400 317,510 17,700 151,825 19,700 Required: 1-a. Prepare income statements for both Garcon Company and Pepper Company 1-b. Prepare the current assets section of the balance sheet for each companyStep by Step Solution
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