Prepare the income statement for Garcon Company. Req $1$ Garcon

Req $1$ Pepper

Req $2$ Garcon

Req $2$ Pepper

Prepare the income statement for Pepper Company.

$\backslash$table$[[$PEPPER COMPANY,,$],[$Income Statement,,$],[$For Year Ended December $31,,],[,,],[$Cost of goods sold:,,$],[$Goods available for sale,,$],[,,],[$Cost of goods sold,,$],[,,],[,,],[,,]]$ Prepare the current asset section or the Dalance sheet for Garcon Company.Prepare the current asset section of the balance sheet for Pepper Compa$[$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 $31.$

$\backslash$table$[[$Finished goods inventory, beginning,$\backslash$table$[[$Garcon$],[$Company$]],\backslash$table$[[$Pepper$],[$Company$]]],[$Work in process inventory, beginning,$14,300,$$$17,500],[$Raw materials inventory, beginning,$15,000,23,100],[$Rental cost on factory equipment,$12,000,14,400],[$Direct labor,$31,250,24,250],[$Finished goods inventory, ending,$21,000,43,000],[$Work in process inventory, ending,$20,600,13,500],[$Raw materials inventory, ending,$22,000,16,200],[$Factory utilities,$7,300,8,800],[$General and administrative expenses,$10,200,15,500],[$Indirect labor,$31,000,54,500],[$Repairs$-$Factory equipment,$15,550,11,720],[$Raw materials purchases,$7,580,2,550],[$Selling expenses,$40,500,65,500],[$Sales$,62,400,47,800],[$Cash$,274,620,388,430],[$Accounts receivable, net,$25,000,24,200]]$

Exercise $14-8($Algo$)$ Preparing financial statements for a manufacturer LO P$1$

Prepare income statements for both Garcon Company and Pepper Company.

Prepare the current assets section of the balance sheet for each company.