Requirea information [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. Garcon Company Pepper Company Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor $ 12,300 $ 16,900 16,500 23,700 11,000 12,450 33,000 26,050 21,200 43,800 Finished goods inventory, ending 20,000 14,900 Work in process inventory, ending 23,800 20,000 Raw materials inventory, ending 7,700 8,000 Factory utilities 9,450 15,750 General and administrative expenses 33,500 48,500 Indirect labor 15,550 14,580 Repairs-Factory equipment 5,660 2,150 Raw materials purchases 38,500 61,500 Selling expenses Sales 59,600 47,800 272,940 391,800 Cash Accounts receivable, net 32,000 23,200 16,200 20,200 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 Cost of goods sold: Goods available for sale Cost of goods sold 0 0 $ 0