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[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	$ 13,800	$ 19,750
Work in process inventory, beginning	17,500	23,100
Raw materials inventory, beginning	10,500	14,100
Rental cost on factory equipment	31,000	26,800
Direct labor	22,600	36,600
Finished goods inventory, ending	19,400	15,200
Work in process inventory, ending	23,500	18,600
Raw materials inventory, ending	7,500	9,000
Factory utilities	14,100	15,000
General and administrative expenses	31,000	47,000
Indirect labor	13,950	15,260
RepairsFactory equipment	7,340	3,750
Raw materials purchases	37,500	57,500
Selling expenses	57,600	52,600
Sales	276,930	380,180
Cash	32,000	22,200
Accounts receivable, net	16,000	21,950

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. Prepare the income statement for Pepper Company. Complete this question by entering your answers in the tabs below. Prepare the income statement for Garcon Company. (x) Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the current asset section of the balance sheet for Garcon Company. 2. Prepare the current assets section of the balance sheet for each company. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the current asset section of the balance sheet for Pepper Company. Accounts receivable, net Cash Cost of goods manufactured Direct labor Factory utilities Finshed goods inventory, beginning Finished goods inventory, ending General and administrative expenses Indirect labor Raw materials inventory, beginning Raw materials inventory, ending Raw materials purchases Rental cost on factory equipment Repairs-Factory equipment Sales Repairs-Factory equipment Sales Selling expenses Work in process inventory, beginning Work in process inventory, ending