********* PLEASE ANSWER ALL 4 QUESTIONS BELOW **********
The following data is provided for Garcon Company and Pepper Company. Garcon Company $ 12,700 Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory (direct materials) 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 (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net 16,100 8,900 34,250 19,400 20,900 27,100 5,600 9,300 11,500 22,000 1,950 5,060 40,000 60,000 201,030 26,000 217,500 14,600 Pepper Company $ 16,750 24,000 9,750 22,150 35,800 15,800 18,600 7,800 12,750 4,900 56,000 9,280 2,300 59,500 53,200 332,510 21, 200 160,825 19,950 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 Operating expenses Income (loss) before tax $ Req 1 Garcon 0 0 Req 1 Pepper 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 Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31, 2019 Operating expenses Income (loss) before tax $ 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 current asset section of the balance sheet for Garcon Company. Inventories: Total current assets GARCON COMPANY Partial Balance Sheet As of December 31, 2019 $ 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 current asset section of the balance sheet for Pepper Company. Inventories: Total current assets PEPPER COMPANY Partial Balance Sheet As of December 31, 2019 $
