Required information 3 [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. Pepper Company Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Garcon Company $13,000 15,000 $ 17,950 20,850 11,000 10,800 29,750 26,350 22,400 44,600 Finished goods inventory, ending 21,200 15,400 Work in process inventory, ending 26,800 21,200 Raw materials inventory, ending 7,600 8,600 Factory utilities 9,600 13,000 General and administrative expenses 32,000 45,000 Indirect labor 11,350 14,940 Repairs-Factory equipment 4,940 3,750 Raw materials purchases 38,000 69,000 Selling expenses 50,800 52,300 Sales 278,100 390,830 Cash 24,000 20,700 Accounts receivable, net 16,400 21,700 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