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 $ 13,900 15,800 8,200 31,500 20,200 20,900 26,200 6,200 12,75 26,000 10,700 6,260 35,000 54,400 284,820 28,000 16,400 Pepper Company $ 18,100 22,800 11,250 25,150 36,600 15,500 21,600 8,400 15,000 50,000 15,300 2,850 67,500 S8,300 376,060 18, 200 20, 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, Complete this question by entering your answers in the tabs below. Reg 1 Garcon Req 1 Pepper Reg 2 Garcon Reg 2 Pepper 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 Reg 2 Garcon Req 2 Pepper Prepare the income statement for Garcon Company. GARCON COMPANY Income Statement For Year Ended December 31 FAccounts receivable, net Cost of goods sold: Goods available for sale Cost of goods sold 0 $ Reg 1 Garcon Req 1 Pepper > 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 Redli 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 0 5 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 Gocon 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 $ 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 R 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 $