! Required 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. Finished goods inventory, beginning Work in process inventory, beginning Raw materials inventory, beginning Rental cost on factory equipment Direct labor Finished goods inventory, ending Work in process inventory, ending Raw materials inventory, ending Factory utilities General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases ling expenses Sales Cash Accounts receivable, net Garcon Company $ 12,900 16,200 11,900 29,000 23,600 19,250 27,700 7,900 9,150 22,500 13,850 6,140 33,500 57,600 277,350 33,000 16,200 Pepper Company $ 19,750 23,550 10,500 22,450 41,800 13,300 18,000 8,800 14,250 55,000 13,560 2,850 64,000 57,400 398, 720 17,700 22,450 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company