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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 $ 12,200 $ 19,750 Work in process inventory, beginning 17,100 19,800 Raw materials inventory, beginning 7,300 9,900 Rental cost on factory equipment 29,000 24,850 Direct labor 22,600 36,600 Finished goods inventory, ending 17,750 13,800 Work in process inventory, ending 23,800 18,000 Raw materials inventory, ending 6,200 7,600 Factory utilities 10,500 17,500 General and administrative expenses 32,500 46,500 Indirect labor 14,650 13,080 RepairsFactory equipment 6,980 2,250 Raw materials purchases 39,000 52,500 Selling expenses 51,600 58,000 Sales 288,810 386,540 Cash 30,000 17,700 Accounts receivable, net 16,200 23,200

Prepare income statements for both Garcon Company and Pepper Company. Prepare the current assets section of the balance sheet for each company.