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 lapor Garcon Company $ 15,000 17,600 Pepper Company $ 18,100 20,850 8,000 11,700 35,000 26,800 25,000 35,000 Finished goods inventory, ending 19,850 14,300 Work in process inventory, ending 24,700 21,000 Raw materials inventory, ending 6,600 8,800 Factory utilities 13,800 15,000 General and administrative expenses 33,500 55,000 Indirect labor 10,050 12,840 Repairs-Factory equipment 7,700 3,200 Raw materials purchases 40,500 69,500 Selling expenses 63,200 57,700 Sales 299,910 387,630 Cash 21,000 22,700 Accounts receivable, net 13,800 21,200 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. Required information Complete this question by entering your answers in the tabs below. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 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