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 Garcon Company $ 14,000 18,400 Pepper Company $ 18,550 20,550 7,500 14,100 31,250 24,700 21,200 38,200 Finished goods inventory, ending 20,300 16,000 Work in process inventory, ending 22,900 16,600 Raw materials inventory, ending 7,700 7,200 Factory utilities 13,050 12,500 General and administrative expenses 31,000 56,500 Indirect labor 13,700 11,720 Repairs-Factory equipment. 6,980 1,850 Raw materials purchases 33,000 61,500 Selling expenses 56,400 57,400 Sales 283,470 397,860 Cash 26,000 21,700 Accounts receivable, net 14,000 22,700 1. Prepare income statements for both Garcon Company and Pepper Company. 2. Prepare the current assets section of the balance sheet for each company. 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. Req 1 Garcon Req 1 Pepper Req 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale Cost of goods sold 1 Darcon 0 0 $ Req 1 Pepper > 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 income statement for Pepper Company. Cost of goods sold: PEPPER COMPANY Income Statement For Year Ended December 31 Goods available for sale Cost of goods sold 0 Net income $ 0 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 Garcon Company. GARCON COMPANY Balance Sheet-Current Assets Section December 31 Total current assets 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 $ 0 1. Compute the total prime costs for both Garcon Company and Pepper Company. 2. Compute the total conversion costs for both Garcon Company and Pepper Company. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total prime costs for both Garcon Company and Pepper Company. Garcon Company Pepper Company Total prime costs < Required 1 Required 2 > 1. Compute the total prime costs for both Garcon Company and Pepper Company. 2. Compute the total conversion costs for both Garcon Company and Pepper Company. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the total conversion costs for both Garcon Company and Pepper Company. Garcon Company Pepper Company Total conversion costs