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 Selling expenses Sales Cash Accounts receivable, net Garcon Company $ 14,800 14,880 11,780 30,250 19,480 19, 180 23,200 7,180 10,500 26,080 12,600 5,3ee 35,500 64,800 299, 180 23,000 16, 200 Pepper Company $ 17, 35e 19,880 10, 280 25,750 35,400 17,880 17,80 7,280 15,750 45,500 12,180 3,450 69,5ee 53,280 396,549 21,280 20,950 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. Reg 1 Garcon Req 1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31 S 299.100 Sales Cost of goods sold: Goods available for sale 0 Cost of goods sold S Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the income statement for Pepper Company. PEPPER COMPANY Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale Cost of goods sold 0 Net income S Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the current asset section of the balance sheet for Garcon Company. GARCON COMPANY Balance Sheet-Current Assets Section December 31 Total current assets S Complete this question by entering your answers in the tabs below. Req 1 Garcon Reg 1 Pepper Reg 2 Garcon Reg 2 Pepper Prepare the current asset section of the balance sheet for Pepper Company. PEPPER COMPANY Balance Sheet-Current Assets Section December 31 Total current assets $